Financial regulators recently approved several offshore financial institutions to set up new business entities in China as the country continues to open up its financial sector to foreign investors.
The China Securities Regulatory Commission gave Singapore-based DBS Group the green light on Aug 27 to set up DBS Securities (China) Ltd, a joint-venture securities company in which DBS Group will have a controlling stake.
With the aim of providing onshore products and services for domestic and foreign clients, DBS Securities will engage in activities including brokerage services, securities investment consulting, securities underwriting and sponsorship, as well as proprietary trading.
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