China to Allow More Foreign Nationals to Trade A-Shares

(Bloomberg) -- China plans to allow foreign nationals working in China or employed by companies with listed A-shares and involved in stock incentive plans to directly trade in the securities in a move to further open up the mainland financial market.

“This modification will further enrich the sources of investment, expand channels for capital, and optimize the market structure,” China Securities Regulatory Commission said in a statement Sunday, pledging state support in aspects linked to tax and foreign exchange.

The Shanghai composite index is among the worst globally in 2018, with the gauge having slumped 17%. It has declined for seven straight weeks, the longest losing streak in six years, driven by factors including trade tensions between China and the U.S. and a sliding yuan.

--With assistance from Amanda Wang.

To contact Bloomberg News staff for this story: Dandan Li in Beijing at dli395@bloomberg.net

To contact the editors responsible for this story: Stanley James at sjames8@bloomberg.net, Sam Nagarajan

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