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China weighs giving US inv't banks greater access


11-07-2016 11:31 BJT

Beijing may allow Wall Street firms to run their own investment-banking businesses on the mainland. That's according to people briefed on discussions taking place over a new China-US trade and investment framework. These businesses would include underwriting initial public offerings on domestic exchanges.

Currently, global banks have limited access to the $7.48 trillion stock markets of China, in which they must pair up with Chinese domestic brokerages and are asked to hold minority stakes.

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