Broker gets nod
By Winny Wang |
May 7, 2010, Friday
|
Print Edition
Print Edition
ORIENT Securities Co has become the first Chinese brokerage to gain approval from the stock regulator to set up an asset management company.
The 300 million yuan (US$43.95 million) firm will offer services that include investments abroad under the Qualified Domestic Institutional Investor scheme. It is expected to initially manage assets totaling 7 billion yuan.
The 300 million yuan (US$43.95 million) firm will offer services that include investments abroad under the Qualified Domestic Institutional Investor scheme. It is expected to initially manage assets totaling 7 billion yuan.
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