The China Banking Regulatory Commission (CBRC) said on June 29 that pilot money-broking ventures would be allowed, but foreign companies would need to set up joint ventures with "eligible domestic financial institutions and internationally renowned brokers" in China to participate.
"The introduction of money brokers is instrumental in enhancing the Chinese market’s liquidity and transparency, as well as improving the efficiency of capital utilisation and allocation," the CBRC added. No timescale for the liberalisation has been announced.
The week in Risk.net, February 10-16 2017Receive this by email
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