China to soon resume approvals for Sino-foreign securities JVs - report |
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Thu, 18 Oct 2007 03:13
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BEIJING (XFN-ASIA) - China will soon resume accepting applications for Sino-foreign securities joint ventures, the official China Daily reported, citing Tu Guangshao, vice chairman of the country's securities regulatory commission.The scope of the joint ventures will also be gradually expanded, Tu told the newspaper, without elaborating.'We have always welcomed and encouraged the establishment of Sino-foreign joint-venture securities firms,' the newspaper quoted Tu as saying.China suspended approvals of such joint ventures in September last year to allow many local securities firms to restructure, the newspaper said, with Tu, saying that the restructurings are basically complete.will.davies@afxasia.com-xfnwd/xfntmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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