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A new joint-venture securities brokerage has been approved in Shanghai free trade zone

Time : 18 March 2016

Shengang Securities, with a registered capital of RMB 3.5 billion(USD 540 million), is responsible for offering brokerage services, whose top-two shareholders are Hong Kong-based Mason Financial Holdings Ltd and Freeman Financial Corp. This approval showed that China Securities Regulatory Commission is opening up the securities industry and reducing the threshold for brokerage licenses.. There were 125 securities firms in mainland China by the end of 2015.

Key impact

Technically the market for foreign securities firms has been open for many years but very few firms have been able to meet the requirements for launching a brokerage. Although the stock market has continued to struggle, clearly, a number of foreign players still see an opportunity to make money in the brokerage business.

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