Caixin
Mar 10, 2018 05:52 AM
FINANCE

China to Allow Foreign Control of Securities Firms

New rules will increase the ceiling of foreign ownership in a Chinese securities firm to 51% from current 49%. Photo: VCG
New rules will increase the ceiling of foreign ownership in a Chinese securities firm to 51% from current 49%. Photo: VCG

China’s securities regulator on Friday published draft rules that will allow foreign financial institutions to take control of domestic securities brokerages, moving to deliver on Beijing’s pledge to further open the country’s financial service market.

The China Securities Regulatory Commission (CSRC) released the revised rules for foreign investment in China’s securities firms and will collect public comment on the new rules until April 8.

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