China may approve PE units for brokerage firms
The asset management divisions of some brokerage firms in China may be granted the right to launch their own private equity funds, Reuters reported, noting that such a move may boost growing PRC banks’ status to those of the major global investment institutions out of the US and Europe.
According to the preliminary report, authorities are set to approve the plan, which would give firms this opportunity for the first time. Reasons for the regulation include giving firms the opportunity...
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