MNCs confident on China opportunities 
2019-08-19
The greater opening-up of China’s financial markets is boosting the confidence of global investors, who have become increasingly interested in China, said a JP Morgan executive.
   “We are confident about our development here,” said Houston Huang, China head of global investment banking with JP Morgan. The US financial giant is working with China’s regulators to push for the establishment of its new majority-controlled securities company in China — the JP Morgan Securities (China) Company Ltd. China will allow 51 percent ownership by foreign firms of their brokerages, up from 49 percent, and has also vowed to remove foreign ownership caps on brokerages, futures dealers and life insurers by 2020, a year earlier than planned.
   Calling the STAR Market a crucial move, Huang said it would offer more options for tech firms to list and raise funds.
