Economic Watch: Foreign investors race to tap China's brokerage market

      Source: Xinhua| 2018-05-13 19:20:31|Editor: Liangyu
      Video PlayerClose

      BEIJING, May 13 (Xinhua) -- Foreign investors are racing to expand their presence in China's securities trading market, with three overseas brokers applying to increase ownership stakes or set up holding firms in the country in less than two weeks.

      J.P. Morgan Broking (Hong Kong) Limited has applied to set up a majority ownership securities firm in China. It plans to hold 51 percent of the new firm's stakes and has submitted application materials to China's top securities watchdog, the China Securities Regulatory Commission (CSRC).

      J.P. Morgan is the second foreign investor planning to set up a holding firm in China after the CSRC rolled out guidelines in late April allowing foreign investors to set up securities trading firms with holding status.

      Japan's largest securities trader Nomura had applied to establish a joint-venture firm in China, holding 51 percent of the new firm's stakes. International investment bank UBS earlier this month decided to raise its stakes in the joint-venture China-based UBS Securities Co. to 51 percent.

      "China is a key market for UBS," the bank said in a statement, adding that the further opening-up of China's financial sector brought great opportunities.

      More foreign investors are expected to follow suit. Several overseas financial institutions have shown interest in expanding their presence in China, the CSRC said.

      The CSRC ruled in 2002 that foreign investor stakes in joint-venture securities firms should not exceed one-third, and then extended the upper limit to 49 percent in 2012. China announced last year that the upper limit would be eased to 51 percent, and phased out in three years.

      Data from the Securities Association of China showed that China now has about 131 securities traders, about 11 of which are joint ventures.

      "The loosening of ownership regulations on foreign investors might deal some impact on the domestic brokerage market, but increased market competition will help improve overall market performance and service quality in the long run," said Lv Suiqi, a financial professor with Peking University.

      Foreign brokers are believed to have richer experience in businesses like investment banking, asset management and wealth management.

      Analysts point out that easing ownership control is just one initial step, and foreign investors still have a long way to go to make money in the growing securities trading market.

      Tian Liang, an analyst with CITIC Securities, said the Chinese securities market had different conditions and would take time to mature, while more opening-up in business licenses and capital management needed to be gradually introduced to offer foreign investors a bigger stage.

      The CSRC said it would gradually allow joint-venture brokers to expand businesses.

      "As part of the country's broader opening-up push, China will encourage foreign investors to enter its trust, financial leasing, auto finance, money brokerage and consumer finance sectors, a move that will take effect before the end of this year," China's central bank governor Yi Gang said at the Boao Forum for Asia annual conference in early April.

      TOP STORIES
      EDITOR’S CHOICE
      MOST VIEWED
      EXPLORE XINHUANET
      010020070750000000000000011100001371760061
      主站蜘蛛池模板: 西西午夜无码大胆啪啪国模| GOGOGO免费观看国语| 欧美日韩亚洲成色二本道三区| 国产91精品新入口| 69av在线视频| 天天操天天爱天天干| 久久五月激情婷婷日韩| 欧美性xxxx极品| 免费在线观看污视频网站| 超清中文乱码字幕在线观看| 国产精品人成在线播放新网站| www.天天色.com| 无翼乌全彩无遮挡之老师| 亚洲国产欧美视频| 男女啪啪免费体验区| 国产一卡2卡3卡四卡精品一信息| 私人影院在线观看| 天堂mv在线看中文字幕| 中文字幕aⅴ在线视频| 最新国产午夜精品视频成人| 亚洲欧美综合一区| 秦老头大战秦丽娟无删节| 国产一级片免费看| 亚洲一区二区三区在线网站| 大陆三级理论电影有哪些| 中文字幕一区二区三区久久网站| 日韩欧美亚洲乱码中文字幕| 亚洲日本va在线观看| 男女激烈试看120秒动态图| 国产av人人夜夜澡人人爽麻豆| 国产chinese91在线| 国产精品自线在线播放| eeuss影院www新天堂| 成人自拍小视频| 久久婷婷五月综合成人D啪| 欧美丰满熟妇XXXX性ppX人交| 亚洲精品无码av中文字幕电影网站| 综合图区亚洲欧美另类图片| 国产又爽又黄无码无遮挡在线观看 | 久久最新免费视频| 欧美人与动性xxxxx杂性|