Morgan Newfield: China to Expand Access to Foreign Investors

Morgan Newfield: China hopes to attract more foreign investment by expanding access to its domestic market.

According to Taipei, Taiwan based Morgan Newfield, China will expand market access for international investors. The announcement was made on state radio earlier this week and quoted Vice Premier Wang Yang who stated that this would follow efforts to increase foreign ownership limits in domestic financial companies.

At a business forum in Guangzhou, Wang said that China’s development in recent years has been advanced through opening channels to foreign investors and that it was crucial to follow the path of quality development fueled by innovations.

He added that the country would significantly widen market access and accelerate the drawing up of a timetable and strategy for the opening of important sectors to foreign investors.

An emerging market analyst at Morgan Newfield said the firm believes that China will actively and effectively pursue attracting foreign investments, guard the legal rights and interests of foreign investors, and establish a setting for reasonable competition.

In October, at a Communist Party congress that takes place once every five years, President Xi Jinping promised to permit wider access to China’s markets for international investors and expressed his intent to make significant progress in opening up in all sectors.

In November, China announced that it would increase foreign ownership limits in local financial companies, a long hoped for a move that gives foreign investors better access to the Asian economy’s financial services market.

An economist at Morgan Newfield said that China has been called out for unethically promoting exports and also of limiting foreign access to its local market. United States President Donald Trump regularly brings to light the enormous trade surplus China runs with his country.

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Source: Morgan Newfield