October 16, 2019 / 11:38 AM / a month ago

China to remove business restrictions for foreign banks, securities firms -cabinet

BEIJING, Oct 16 (Reuters) - China will remove business restrictions for foreign banks, securities companies and fund management firms, a cabinet meeting chaired by premier Li Keqiang on Wednesday said, according to state television.

China will not allow forced technology transfers by foreign firms, the report said.

The government will also support local governments facing fiscal difficulties to ensure wage payments, it added.

Reporting by Beijing Monitoring Desk

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