Morgan Stanley and J.P. Morgan cleared to set up China JVs

The approvals mark a key step for these firms to be able to underwrite domestic equity and bond issues in China. The two securities joint ventures are expected to receive their final business licences in the second quarter.

Morgan Stanley and J.P. Morgan have both received regulatory approval to set up securities joint ventures in China. The two JVs will be able to underwrite domestic equity and bond issues and will give the two US firms the same access to the Chinese market as Goldman Sachs, UBS, Credit Suisse and Deutsche Bank.

Before they can start operations, the new JVs to be set up by Morgan Stanley and J.P. Morgan together...

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