Chinese authorities will further........>

CHINA PRESS: Chinese authorities will further reduce restrictions on foreign

investment in financial institutions, China Securities Journal reported Friday,

citing Zeng Gang, deputy director of National Institution for Finance and

Development. 

  - These policies may include further reducing restrictions on the market entry

of financial institutions and on foreign companies' investment in non-financial

institutions, Zeng was cited as saying, who added that the process would take

time; 

  - China's banking regulator on Thursday announced that it would lift

shareholding restrictions for foreign investment in Chinese banks and financial

asset management companies; 

  - The move will have several positive effects, Zeng said, but China does not

need to offer more benefits to foreign investment than domestic companies; 

  - The commission is also working in risk controls, and financial institutions

in Europe and Japan have recently asked for more investment expansion in China,

the Journal noted, citing an official from the CBIRC.