PBOC to meet Tuesday to discuss preliminary plan of big financial liberalisation measures

Reuters quoting people familiar with the matter, citing that People's Bank of China (PBOC) is likely to hold a meeting on Tuesday to discuss preliminary plan of the big financial liberalisation measures.

Key Details:

PBOC to draft a package of reforms to give foreign investors greater access to China's financial services industry

Tuesday's meeting is to discuss its proposals, get feedback from Chinese institutions, and discuss a timetable

Plan details not yet final

Proposals include:

• Permission for foreign institutions to control their local finance-sector joint ventures
• Raising the current 25% limit on foreign ownership in Chinese banks
• Allow foreign firms to provide Yuan-denominated bank card clearing services