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Asia-focused insurer AIA gained as much as 6.1 per cent on Monday on Beijing’s plans to ease limits on foreign ownership in China’s financial sector.
Among plans announced on Friday for lifting caps on ownership in China’s financial sector, only those for insurance joint ventures came with a clear timeline: the limit will be raised to 51 per cent in three years and removed entirely in five years.
Shares in AIA were still up 5 per cent in morning trade at HK$64.65. The Hang Seng index had risen 0.3 per cent.