April 11, 2018 / 2:53 AM / 16 days ago

China will allow foreign investors in trust, financial leasing, auto finance by end 2018: central bank

BEIJING (Reuters) - China will allow foreign investors to enter its trust, financial leasing, auto finance and consumer finance sectors by the end of this year, the central bank said on Wednesday.

The People’s Bank of China also said on its website that it will not set foreign ownership limits for financial asset investment and wealth management companies set up by commercial banks by the end of 2018.

China also will raise foreign ownership limits to 51 percent in securities, fund management, futures and life insurance companies over next few months, the PBOC added.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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