China to Ease Securities Tie-up Rules – Geoff Dyer

From FT.com:

China is planning to introduce rules by the end of the year to allow a handful of foreign investment banks to invest in joint ventures with local securities firms, according to senior government officials and banking executives.

…Under the revised rules, foreign investment banks would be allowed to own up to 33 per cent of a new securities industry joint venture with a local partner, officials said…..[Full Text]