GOP senators tell administration to address Chinese financial services equity caps

Sixteen Republican senators are pressing Trump’s top trade advisers to reinvigorate a push to get China to open up its financial services market by doing away with foreign equity caps, a longstanding request that Beijing has not moved on in recent years. The senators note that in the context of negotiations for a bilateral investment treaty – which the Trump administration to date has not picked up – China had shown some willingness to drop the ownership restrictions. Accordingly, they...