China is opening up its e-commerce market to more foreign investment, removing restrictions that limited investors to joint ventures with Chinese firms.

The country’s top IT regulator announced the change on Friday, months after authorities introduced it on a smaller scale for a newly established free-trade zone in Shanghai.

The new regulation means that foreign investors can take 100 percent ownership of an e-commerce operation in the country. Before, China had limited foreign ownership to no more than 50 percent.

China is opening the market as the government has been trying to stimulate more economic growth. To support the country’s e-commerce development and increase competition, China wants to attract greater foreign investment and participation in the market, its Ministry of Industry and Information Technology said on Friday.

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