On 20 July 2019, CHI CB increased access to financial industry.
- Introduced 11 measures for opening up financial industry to foreign company access.
- When foreign established institutions are allowed to carry out credit rating business in China, they can rate all types of bonds in the inter-bank and exchange bond market.
- Encourage overseas financial institutions to participate in the establishment and investment of shares in commercial bank financial management subsidiaries.
- Allow overseas asset management entities to establish JVs with Chinese banks or insurance companies to make wealth management co's controlled by foreign parties.
- Allow overseas financial institutions to invest in pension management companies.
- Support foreign investment to establish/participate in currency brokerage companies.
- The removal of restrictions on foreign-invested shares of securities companies, fund management companies and futures companies will occur ahead of schedule in 2020.
- Cancel rule that of domestic insurance companies must hold over 75% of the shares of the insurance asset management company, so foreign investors can hold over 25%.
- Relax conditions for entry of foreign-invested insurance, cancel 30-year requirement.
- Advance the time limit for the cancellation of foreign shares of securities companies, fund management companies and futures companies in 2021 to 2020.
- Foreign-funded institutions are allowed to obtain the Class A lead underwriting license.
- Facilitate investment of overseas institutional investors in inter-bank bond market.