China will scrap foreign ownership caps in the domestic financial industry from 2020, a year earlier than previously expected, Premier Li Keqiang said on Tuesday, in a fresh gesture to woo foreign investors, just days after agreeing to another truce in the year-long trade war with the United States.
Li did not directly mention the US or the trade war in his speech to the “Summer Davos” forum in Dalian on Tuesday, but said China will open its markets wider to foreign investors, while also repeating China’s assurance that it will protect its interests amid a changing world.