China to allow foreign institutions to offer new types of financial services in free trade zones

BEIJING (Reuters) – China will grant foreign financial institutions the same treatment as domestic ones in offering new types of financial services not yet available in the country in some free trade zones, the central bank said on Wednesday.

The country will also facilitate the transfer of inbound and outbound funds related to foreign investments in these areas in regions such as Beijing and Shanghai, according to guidelines jointly published by five government agencies. (This story has been refiled to fix the spelling of ‘institutions’ in the headline)