China's cabinet says reform in free trade zones to deepen

BEIJING (Reuters) - China's state council on Friday said measures will be taken to deepen reform in free trade zones (FTZs), and qualified individuals in them will be allowed to invest in overseas securities under relevant rules.Banks in FTZs will also be allowed to conduct yuan derivative businesses on behalf of overseas institutions, while qualified FTZs will be able to launch pilot schemes for intellectual property rights securitisation, the state council said in a statement on its website.