The China Securities Regulatory Commission has stated that foreign financial service firms will be allowed to control 100 % of local joint ventures . The commission has also stated foreign entities will be able to control 100 % of Chinese operations within three years . Foreign companies were previously only allowed a minority stake in Chinese fund managers marketing funds to the public . The asset management arms of UBS and JPMorgan have set up local joint ventures for public mutual funds , while subsidiaries and Vanguard have been approved to independently raise funds from high net - worth individuals .
The China Securities Regulatory Commission has announced that foreign financial service firms will be allowed to control 51% of local joint ventures. The regulator has also said foreign entities will be able to control 100% of Chinese operations within three years. Foreign companies were previously only allowed a minority stake in Chinese fund managers marketing products to the public. The asset management arms of UBS and JPMorgan have set up local joint ventures for public mutual funds, while BlackRock and Vanguard have been approved to independently raise money from high net-worth individuals.