Icap prepares for joint venture in China

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Inter-dealer broker Icap could be one of the first foreign companies to enter the Chinese money-broking sector, after Chinese regulators said they would relax rules previously banning the practice.

Icap will set up a joint venture with an unnamed Chinese partner. Michael Spencer, Icap chief executive, said: "China represents a significant opportunity for Icap to take part in, together with a joint venture partner, in the rapid development and growth of the interbank financial markets. This

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