China will now allow foreign............>

CHINA PRESS: China will now allow foreign investors to become bigger

shareholders in financial firms since the domestic financial sector is stable

and ready for further opening up, Lian Ping, chief economist with Bank of

Communications, said Friday, Shanghai Securities News reported. There is a

possibility that foreign organizations will now become large shareholders of big

Chinese banks, Lian noted, adding they could also hold more shares of small and

medium-size banks, securities and futures brokerages, and insurance companies.

Lian's comments were in line with those of China Vice Finance Minister Zhu

Guangyao, who said Friday that foreign investors could now increase their

shareholdings of financial firms to 51%.