WASHINGTON, June 7 (Reuters) - China agreed following bilateral talks to allow foreign companies to hold bigger stakes in certain types of investment firms, the U.S. Treasury said on Tuesday.

China committed to “gradually raise the permitted equity holding of qualified foreign financial institutions” in securities and fund management companies, U.S. Treasury said in a statement at the end of high-level talk between U.S. and Chinese officials in Beijing.

China also committed to welcoming qualified foreign firms and joint ventures to apply to engage in the private securities fund management business, including secondary market trading of securities, Treasury said.