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PBoC encourages foreign FIs to participate in setting up WM subsidiaries

Shortly after Premier Li Keqiang’s speech at the World Economic Forum, during which he said China will expedite Foreign Investment Law-related regulations, the People’s Bank of China (PBoC) announced 11 new measures with an accompanying timeline to promote and facilitate foreign access to China’s finance industry. On the wealth management front, the central bank “encourages” foreign financial institutions to participate…

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