April 29, 2018 is an important day in the history of Chinese capital markets. Following the publication of new rules, foreign institutions can now take up controlling stakes in Chinese securities firms and in asset management and wealth management businesses too.
In response, some international players are already out of the blocks.
Three have announced their intention to set up majority-owned security joint ventures JV in mainland China, while one, UBS, said on May 3 that it wants to increase the near-25% share it already holds in its existing mainland JV to the maximum 51% at the earliest opportunity.
JP Morgan and...
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