Foreign ownership limit may rise
By Vera Ye |
August 25, 2012, Saturday
|
Print Edition
Print Edition
The ceiling on ownership of domestic brokerages may be raised for foreign companies.
The China Securities Regulatory Commission yesterday said it plans to allow the foreign firms to raise their stake in domestic securities joint ventures to 49 percent, up from the 33 percent cap now. The CSRC will solicit public opinion on draft rules which also include a proposal to shorten the period from five years to two years for JV brokerages to expand their business in the country.
The China Securities Regulatory Commission yesterday said it plans to allow the foreign firms to raise their stake in domestic securities joint ventures to 49 percent, up from the 33 percent cap now. The CSRC will solicit public opinion on draft rules which also include a proposal to shorten the period from five years to two years for JV brokerages to expand their business in the country.
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