China to scrap limit on foreign ownership of securities firms

China will lift the limitations on the ratio of foreign shareholding in securities companies on April 1, the top securities watchdog said on March 13.

Eligible foreign investors can then file applications for the establishment or change of the actual controller of securities firms in accordance with related laws and regulations, the China Securities Regulatory Commission said.

The commission said it will continue to firmly implement the country's overall arrangement on opening-up, actively advance the opening-up of China's capital market, and approve the establishment of foreign-invested securities companies or the change of actual controllers of securities companies in accordance with the law.