XIANGHE, China, Dec 13 (Reuters) - China has agreed to a series of measures
to open up the country's financial markets, the United States said on Thursday.
A factsheet distributed to reporters after a two-day Sino-American
"strategic economic dialogue" near Beijing listed the following steps:
-- Foreign companies, including banks, that do business in China will be
allowed to issue debt and equity in the domestic markets.
-- China will resume licensing foreign securities joint ventures, which will
be allowed to carry out brokerage and wealth management business. It gave no
timeframe.
-- Mutual funds offered by Chinese banks under the Qualified Domestic
Institutional Investor (QDII) scheme will be permitted to invest in U.S. stocks
under an exchange of letters agreed to by the two countries' regulators. Bank
funds currently may invest only in Hong Kong.
(Reporting by Glenn Somerville; Editing by Alan Wheatley and Ken Wills)
(([email protected]; +86 10 6627 1235;
[email protected]@reuters.net))
Keywords: CHINA USA/FINANCIAL