“We welcome this milestone policy change, which we believe will bring fu

Zimbabwe Defense Forces Chief Constantino Chiwenga speaks in a press conference in Harare Cheap Tyler Seguin Shirt , Zimbabwe, on Nov. 20, 2017. Zimbabwean President Robert Mugabe has opened discussions with former Vice President Emmerson Mnangagwa who he fired two weeks ago, Constantino Chiwenga said Monday. (XinhuaShaun Jusa)
HARARE, Nov. 20 (Xinhua) -- The Zimbabwe Defense Forces (ZDF) said Monday they are encouraged by the opening of talks between President Robert Mugabe and former Vice President Emmerson Mnangagwa who he fired two weeks ago.


Army chief Constantino Chiwenga told a press conference that Mnangagwa, currently in self imposed exile Cheap Jamie Benn Shirt , was now expected back in the country soon.


"Thereafter, the nation will be advised on the outcome of talks between the two," Chiwenga said.


He said in the meantime, Mugabe, who was removed from the position of party leader on Sunday, had started processes towards a definitive solution and roadmap for the country.


"As this happens we as the Zimbabwe Defense Forces and Security Services urge Zimbabweans to remain calm and patient Cheap Jason Spezza Jersey , fully observing and respecting the laws of the country," Chiwenga said.


Chiwenga said the ZDF meetings with Mugabe had gone on in an atmosphere of mutual respect with several guarantees being made.


The ZDF also remained seized with its operation code named "Operation Restore Legacy", he said.


"We are confident to take our beloved country out of its present circumstances and set in on the desired development trajectory," he said.


Chiwenga urged the generality of Zimbabweans to refrain from any actions or activities that threaten peace, life and property. Students should also remain clam and proceed with their educational programs as scheduled, Chiwenga said.


His appeal to students came after University of Zimbabwe students staged demonstrations and refused to write their examinations on Monday until Mugabe steps down.


The ZDF statement comes as the ruling ZANU-PF party on Sunday removed Mugabe from party leadership and replaced him with Mnangagwa.


The party has also resolved to move a motion to impeach Mugabe in Parliament Tuesday Cheap Alexander Radulov Jersey , the same day he will be chairing a cabinet meeting at State House.


Following the military seizure of power last Wednesday, Zimbabwe has been thrown into political turmoil as Zimbabweans and political parties have united in their call for Mugabe to step down.


In his televised speech to the nation Sunday night, Mugabe said he will chair the party's congress next month to address once and for all challenges afflicting the ruling party.




International banks that have for years been pressing for more access to Chinese capital markets are lauding new regulations that remove caps on foreign ownership of domestic commercial banks, asset management companies, securities firms, fund managers and life insurers.


Zhu Guangyao Cheap Ben Bishop Jersey , vice finance minister, opened the investment door wider in an announcement last week.


Currently, a single foreign investor cannot own more than 20 percent of a bank or an asset manager, and total foreign ownership cannot exceed 25 percent.


Caps on shareholdings in securities firms, fund managers and life insurers will also be lifted to allow foreign investors to take majority stakes — and eventually full ownership.


The deregulation was hailed as a “remarkable milestone” by the financial research team at UBS Securities. It was a sentiment echoed throughout foreign corridors.


A total of 39 foreign banks have been locally incorporated in China by the end of 2016, with over 1 Cheap Stephen Johns Jersey ,000 joint ventures, according to data from the China Banking Regulatory Commission. Collectively, their exposure to the country totaled a record high of US$1.89 trillion during the first half, latest data from rating agency Fitch show.


Easing of restrictions on their operations has been incremental since China promised to open up its financial markets gradually upon its entry into the World Trade Organization in 2001. Many foreign players have complained that excessive regulation has choked their efforts to gain any significant toehold in the world’s second-largest economy.


In frustration, some foreign banks have actually cut their footprint in China as a result. In January, Australia & New Zealand Banking Group Ltd Cheap Brett Ritchie Jersey , one of Australia's biggest banks, joined a slew of lenders to sell its 20 percent stake in Shanghai Rural Commercial Bank.


Euphoria over the latest announcement comes as no surprise.


“HSBC welcomes the changes,” said Peter Wong, deputy chairman and chief executive of the Hongkong & Shanghai Banking Corp. “Further foreign participation will help China’s financial markets become more global, supporting greater internationalization of the yuan.”


In June, HSBC became the first foreign lender in China allowed to hold a maximum 51 percent of a securities joint venture Cheap Esa Lindell Jersey , according to media reports.


“We welcome this milestone policy change, which we believe will bring further investment to China and create new business momentum for the financial services industry,” a spokesperson for Morgan Stanley said.


James Gorman, global chief executive of the US investment banking giant, said the bank will “seize the chance” to increase its stake in a local joint venture, according to a report in the South China Morning Post.


Earlier this year Cheap Tyler Pitlick Jersey , the bank increased its share in Morgan Stanley Huaxin Securities, a joint venture with a local broker, to 49 percent from 33 percent.


J.P. Morgan Chase & Co, another global leader in financial services, said that it “welcomes any decision” made by the Chinese government that further liberalizes the financial sector. The bank said it will continue to “evaluate viable options” to strengthen its position in China.


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