On 15 October 2019 the State Council of China published the Decision on Revising the 'Foreign Insurers in China Regulations' and the 'Foreign-Invested Banks Administrative Regulations' ("Decision"), which became effective on the same day
The announcement of the Decision came just as the United States and China had concluded the latest round of trade talks with a declaration that "substantial progress" had been made. Reportedly, the Decision has been seen in the U.S. as a welcome move towards further opening up markets and levelling the playing field for foreign investors against the background of the latest trade war truce. Above all, the Decision should be seen as creating an opportunity for foreign investors to get into, or expand their presence in these key sectors, and while the link between the liberalization and the trade talks is not clear at present, sends a clear message that regardless of whatever the outcome in the trade talks, China remains "open for business."
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