COVER STORY - China looks to unlock its securities sector
The prospect of partnerships between global banks and domestic securities firms rose recently after the industry regulator said it would set out new rules for Sino-foreign joint-ventures soon. Credit Suisse and Citi are competing for one tie-up, while Morgan Stanley also has a proposed deal on the table. But the approval process is tortuously slow, even though Chinese securities houses are urgently in need of expertise. Elliot Wilson reports.
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