China seeks more foreign investment


China has announced measures to increase investment and competition in its financial and banking sectors.

The China Securities Regulatory Commission revealed international fund managers can now invest a combined total of $80bn (£50bn) in Chinese capital markets, compared with the previous limit of $30bn.

Tony Nash from IHS Global Insight tells the BBC that these measures may help boost an underperforming stock market - the Shanghai Composite index is down more than 20% over the past year.

However, he says more wide-ranging reforms to the Chinese economy will take years to implement.

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