Financial Times: Peter Reynolds on Foreign Ownership of Securities Companies in China
Jul 2, 2019
Chinese premier Li Keqiang said the country would allow majority foreign ownership of domestic securities companies by next year, opening up its financial sector ahead of schedule. The move is part of Beijing’s drive to attract overseas capital to the country’s stock and bond markets.
Peter Reynolds, head of greater China at consultancy Oliver Wyman, said the move could reassure companies that the country would offer more real returns rather than continued promise. “No longer is ‘being in China’ enough to guarantee growth . . . a clear customer value proposition and carefully tailored strategy to tap into the right pools where firms have a competitive advantage is needed,” he said.
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