Citigroup plans to set up wholly-owned securities business in China: sources

) plans to set up a wholly-owned securities business in China, people with knowledge of the matter said on Tuesday, taking advantage of Beijing’s move to fully open up some of its financial sectors to foreigners next year.

Citi is currently in the process of completing its exit from a minority-owned securities joint venture in China, a process that one of the sources said is expected to be completed by end of this year. Citi’s plans to set up a wholly-owned securities business in China are in the early stages, said the sources, who declined to be identified due to the sensitivity of the matter. Bloomberg first reported the development.

Global investment banks are currently able to own up to 51% of their China operations. That requires a joint venture with local Chinese partners. Beijing has pledged to ease foreign ownership limits in the financial sector over a period of time.

O gidicek aynen (Mesela bi haber bakalım seçme yok ihlas haber ajasından bakalım ima mana anlam neymiş ilk haber ok )🔺👁️👌

Only commenting to say that I liked the girl's outfit.

Be really surprised if it isn't set up as a separately capitalized entity, keeping the parent bankruptcy remote

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Amid trade war, China moves to remove limits on foreign ownership in the financial industryBeijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities. China all the Way! Don't trust them. It's a communist country with a hidden agenda. ;-( China best do what their told!
La source: CNBC - 🏆 12. / 72 Lire la suite »