ecns [expanded by feedex.net]
ecns
China approves first brokerage JV under CEPA
http://www.ecns.cn/business/2016/03-19/203554.shtml
Mar 19th 2016, 10:32
Saturday Mar 19, 2016
China's securities regulator has approved a brokerage joint venture (JV) between the mainland and Hong Kong investors, the first under the Closer Economic Partnership Arrangement (CEPA) between the mainland and Hong Kong.
With a registered capital of 3.5 billion yuan (540 million U.S. dollars), the JV will be set up in Shanghai pilot free trade zone and offer standard brokerage services, Deng Ge, spokesman for China Securities Regulatory Commission (CSRC), said at a press conference on Friday.
The JV will have six months to register with regulatory authorities before starting operation, according to a document posted on the CSRC website.
Three Hong Kong investors will have a combined stake of 34.85 percent in the new company while 11 mainland investors will take the remaining 65.15 percent, according to the document.
CEPA allows Hong Kong or Macao-funded financial institutions to set up one brokerage JV in each of Guangdong, Shanghai and Shenzhen with a maximum stake of 51 percent. They can also set up one brokerage JV in each of the mainland's reform pilot zones with a maximum shareholding of 49 percent.
¡¡¡¡
Macao, mainland ink new deal on trade in services under CEPAHK, mainland sign new CEPA dealHK, Macao to begin negotiations on CEPA
Sad diary: Cellphone-obsessed mother breaks kid's heartPBOC reportedly drafting tax for FX transactions25% of cities record rise in prices of second-hand housesMillions of jobs could be lost as steel production slashedChinese student startup hacks the brain
China maintains yellow alert for smog Plane crashes in Russia, all 55 onboard dead Vice premier urges more afforestation for a greener China Top legislator's visit to strengthen China-Africa ties Chinese premier stresses implementation of government work report
You are receiving this email because you subscribed to this feed at https://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt
No comments:
Post a Comment