Beijing expands access for HK, Macau brokers

The relaxation of rules governing joint venture ownership of mainland brokerages is limited to a few municipalities but allows HK and Macau brokers to hold control positions.

Beijing expands access for HK, Macau brokers

China will open its capital markets to Hong Kong and Macau brokerages, allowing qualified firms to form joint ventures with mainland peers but limiting them to one fully licensed stock brokerage in a few designated municipalities and regions.

The China Securities Regulatory Commission CSRC said qualified financial institutions from Hong Kong and Macau will be allowed to establish one fully licensed securities house in Shanghai, Shenzhen and throughout Guangdong province, according to an announcement posted...

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