China to Ease Foreign Ownership Rules: Reports

China will move to allow foreign companies to own up to 51% of joint ventures in the world’s second largest economy, according to published reports.

The move was announced by the country’s vice finance minister at a briefing Friday in Beijing, Bloomberg reported.

It came as President Trump left China for an Asian economic summit in Vietnam.

China’s¬†Shenzhen SE A Share Index rose 0.33% to 2128.73, its highs of the day, in the wake of the announcement.

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