waiting for opening, expect will be a big jump, get ready for an other hectic day. for those who read Chinese here are the new polices, otherwise need to wait for translated second hand info. http://skyapex.com/forum/financial-markets/121
Translation; As one of the results of 2015 the Sino-US strategic and economic dialogue, the Chinese government announced its commitment to the promotion of foreign financial services companies and investors to participate in its capital markets, which include: 1. The foreign-invested securities company to gradually expand the scope of business. 2. To allow qualified foreign financial institutions to set up joint venture securities company in Shanghai FTA test area, the proportion of foreign ownership does not exceed 49% Domestic east limited to securities firms. 3. To allow qualified foreign futures brokerage company established by law in Shanghai FTA test area, agents overseas traders in the territory of a particular breed futures. 4. established within the territory to allow qualified foreign-owned and joint-venture private equity fund management institutions in the secondary market include securities trading, including the private equity fund management business according to regulations. 5. The introduction of a plan, according to China's managed capital account convertibility policy, all foreign investors by setting the total investment limit and not to a single country or institution in the form of restrictions were allowed to participate in the inter-bank bond market. 6. Develop a plan to promote foreign institutions FTA test area by free trade account investment bond market. 7. allow qualified corporation in China, the United States and other foreign financial institutions in achieving market clearing agents and underwriting bond eligibility and equal treatment of domestic financial institutions. 8. allow foreign rating agencies publish ratings of local government bonds. In the eight commitments, item 2, paragraph 3 and paragraph 4, of particular concern, these liberalization measures may attract the interest of international financial institutions. In particular, we briefly interpret as follows: Item 2: International financial institutions may set up joint venture securities company in Shanghai FTA and non-Chinese joint venture securities firms, even though foreign capital equity ratio can not exceed 49%. Item 3: Foreign futures futures brokers can establish a free trade zone in Shanghai, although the agency is currently limited to serve customers outside of "territory specific futures" trading. Item 4: foreign-owned or controlled companies to be registered as private equity investment fund manager in China Securities Investment Fund Association and in private securities investment fund management business. RN
Shanghai Composite now below 4000 level.....the China bureaucrats better step-up their rhetoric soon or we could see the index at 2500 by the end of the year. That's HALF of what it was 2 months ago.
hahah I bet one pint of beer with u. by the way why it's China bureaucrats not China republicans or democrats?