From Bloomberg News via the International Herald Tribune:
China will allow futures brokers to trade overseas and establish investment funds to spur development of its capital markets and unlock more of the nation’s 15.4 trillion yuan, or $1.9 trillion, of household savings.
The new regulations will take effect before the end of the year, Yang Maijun, director-general of the department of futures supervision of the China Securities Regulatory Commission, said July 11. Brokerages will be able to trade on their own accounts, according to the draft rules dated June 22.[Full Text]
