China Maintains Cap on Foreign Ownership of Brokerages at 33% – Zhao Yidi and Tian Ying

From Bloomberg:

China will keep its 33 percent cap on foreign ownership of joint-venture brokerages, resisting opening its market further to foreign competition.

Revised rules, which take effect next year, relax some requirements for foreigners. The regulations will let investors from abroad buy into publicly traded brokerages and cap foreign ownership at 20 percent for single investors, and 25 percent for total foreign-owned stakes, the China Securities Regulatory Commission said in a statement on its Web site today. The limit for private ventures will remain at 33 percent. [Full Text]

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