上海自贸区出扩大金融开放25条吸引 外资金融机构集聚 - 2018年08月05日

Foreign financial institutions will be allowed to establish a branch and subsidiary at the same time while foreigners can own majority stakes in domestic life insurance companies in Shanghai Pilot Free Trade Zone.

These will be possible under 25 new rules issued by the Shanghai Pilot Free Trade Zone Administration today in the FTZ's latest effort to test the ground for further liberalization of the economy to widen the opening-up of its financial sector.

Under the rules commercial banks are allowed to form financial asset investment and management companies without any cap on foreign ownership.