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BIZCHINA / Center
China to resume approval of sino-foreign securities firms
(Xinhua)
Updated: 2007-09-06 14:57
Shang Fulin, chairman of the China Securities Regulatory Commission
(CSRC), said the commission will resume the approval of sino-foreign
securities joint ventures.
"Allowing foreign capital into China's securities business will help
promote the capabilities of the whole industry," said Shang, adding that
the commission is engaged in research on the resumption.
Foreign capital can enter China's securities market by setting up
companies, cooperating with investment banks, or acquiring shares in
licensed securities firms in China, Shang said.
He made the remarks while addressing a plenary session at the Inaugural
Annual Meeting of the New Champions hosted by the World Economic Forum in
China's northeastern coastal city of Dalian.
The date to resume approval is yet to be decided, he added.
(For more biz stories, please visit Industry Updates)
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