Fang said that several foreign banks had expressed a hope to apply to raise their stakes to 100 per cent once permitted by regulations.
China Stock Markets
SHANGHAI: China is the world's second-largest economy and has one of the fastest growth rates of any G20 nation, but its stock markets have been among the worst performing in the world this year. Starting with a botched attempt to reduce volatility that instead triggered a spectacular meltdown, Chinese bourses have spent the year struggling against feckless policymakers, massive capital flight and a languishing currency. The benchmark Shanghai Composite Index (SCI) closed Friday down 12.3 per cent for the year,…