皇冠体育app

Chinese banks must hold the majority of shares of such ventures, according to the country's 11th five-year program (2006-2010) on foreign investment utilization.

Over the past few years, strategic foreign investors have joined three of the Big Four" State-owned commercial banks in 皇冠体育app - the Industrial and Commercial Bank of 皇冠体育app, Bank of 皇冠体育app and 皇冠体育app Construction Bank.

Under 皇冠体育app's World Trade Organization commitment, the country will fully open its banking sector to foreign banks by the end of this year.

According to the program, 皇冠体育app also encourages strategic foreign investment in State-owned insurance companies which also must be primarily owned by the Chinese partner.

Foreign insurance companies specializing in pension insurance, health insurance, liability insurance and agriculture insurance are especially welcomed, said the program.

According to the document, 皇冠体育app utilized US$383 billion of overseas investment between 2001 and 2005. This included US$286 billion in direct overseas investment, US$38 billion in overseas stock investment and US$46 billion in foreign loans.

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