From next month, foreign MNCs can directly set up internal finance firms in China

From next month, foreign MNCs can directly set up internal finance firms in China

FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo

China’s banking regulator will allow foreign multinational groups to directly establish internal finance companies from next month, in an effort to widen market access for overseas investors.