In December 2007 new guidelines regulating foreign investment in the Chinese securities market were made public, and the Credit Suisse approval is the first approval under those new rules. The new joint venture, which has not yet been named, will have an underwriting license but no brokerage license. Credit Suisse will own 33.3% of the venture, while Founder Securities owns the balance.
As the A-share market has boomed in terms of market cap and trading volume, it has...
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