Commission approval of joint venture securities companies will be restored to ban foreign ownership.

<P>: Http:// News, China Securities Regulatory Commission Chairman Shang Fulin Summer Davos meeting in Dalian, said that after the end of comprehensive treatment in the brokerage, the SFC approved the resumption of joint venture securities companies, the relevant documents are being prepared. .This means that, after more than a year of stagnation, foreign ownership of brokerage lifted soon. .</ P> <P> Previously, with the broker as part of comprehensive treatment project, the Commission suspended the approval of foreign ownership of local brokerages. .But in the meantime, some brokers have been the first foreign capital intended to do so on the basis of price negotiations early work, wait until after the comprehensive treatment of these early preparations of the broker as soon as possible to get "pass." .</ P> <P> so far the last case of foreign ownership of local brokerage UBS stake in Beijing Securities is the other case is the shareholding of Goldman Sachs Gao Hua Securities. .According to WTO accession agreement, 3 years to allow the establishment of joint venture securities companies, foreign ownership not exceeding 1 / 3 of a minority stake in a joint venture company engaged in the underwriting of A shares, but not the broker. .In the previous long period of time, regulators in the case of foreign-invested securities companies to grasp the scale of operation is very strict: a single foreign company equity securities companies up to 20% of the total foreign equity ceiling of 25%. .</ P> <P> Shang Fulin said at the meeting, including out of investment banking joint venture, while the full-license broker, you can use shares of the way, I believe this move will help raise the level of the securities industry. .</ P>.