futures market

Goldman enters China futures markets

The bank enters the country's futures market after its securities brokerage business weakens.
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Goldman is the second foreign bank to enter China’s futures market
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<div style="text-align: left;"> Goldman is the second foreign bank to enter China’s futures market </div>

Goldman Sachs, one of the first foreign investment banks to set up in China, has entered the country’s futures market after a slow year for its securities brokerage business.

Beijing Gao Hua Securities, Goldman’s China operation, said last night that it had bought a Shenzhen-based futures brokerage company, Qian Kun Futures.

The bank didn’t disclose the size of the transaction, but the deal “marks a continued expansion of Gao Hua’s product platform” , said Xing Zhang, chief executive officer of Gao Hua. “We are committed to continue investing in our business and in China’s financial markets.”

Goldman has been looking for a...

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