Securities Regulator: Securities and Csrc

securities regulator: Beijing Gao Hua Securities holds the remaining 67 percent of the joint venture, which was launched in 2004, according to Global Times China. The CSRC received the securities JV's application materials on Monday, Chinese news site cnstock reported on Wednesday. A Goldman Sachs spokesperson confirmed to the Global Times on Wednesday that we have submitted an application to the China Securities and Regulatory Commission CSRC to increase our ownership of Goldman Sachs Gao Hua Securities Co from 33 to 51 percent. The securities regulator has yet to publicly comment on the application. As part of the guidelines for foreign investment in Chinese securities firms, which were released by the CSRC in April 2018, the cap on foreign shareholdings was raised to 51 percent from previous 49 percent. The move attests to the fact that China is honoring its promise to further open up its financial sector, a critical part of the nation's opening-up at large, Wu Jinduo, head of fixed income at the research institute of Great Wall Securities, told the Global Times on Wednesday. (news.financializer.com). As reported in the news.