According to the unified arrangement of the national financial industry opening to the outside world, the requirements of the first-stage economic and trade agreement between China and the United States will be implemented. After a general study, the restrictions on the ratio of foreign shares of securities companies will be lifted from April 1 day, 2020. Eligible foreign investors may submit an application for establishing a securities company or changing the actual controller of the company according to laws and regulations, the relevant provisions of the China Securities Regulatory Commission and the requirements of relevant service guides.
In the next step, the CSRC will continue to firmly implement the overall deployment of China's opening up, actively promote the process of opening up the capital market, do a solid job in various specific opening-up work, and continue to do a good job in auditing the establishment or change of actual controllers of joint venture or wholly foreign-owned securities companies in compliance with laws and regulations.