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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.
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