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China: Plans to allow brokerages to expand wealth management business surface

By  |  September 11, 2014

China plans to allow brokerages and securities investment advisers to expand their wealth management business, three sources with direct knowledge of the matter said on Tuesday.

The move is the latest in a series of steps taken to liberalize the country’s finance sector.

Under the new rules drafted by the Securities Association of China, qualified consultants may step into the shoes of investors and invest or trade in shares, funds or futures, among other things, on their behalf, they said.

 

Full Content: Chicago Tribune

 

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