🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Goldman Sachs granted licence for China fund sales

Published 12/13/2024, 08:11 AM
Updated 12/13/2024, 08:16 AM
© Reuters. FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021.  REUTERS/Brendan McDermid/File Photo
GS
-

By Selena Li

HONG KONG (Reuters) - Goldman Sachs received regulatory approval to sell funds in China, the latest U.S. investment bank to get a financial licence in a sign of Beijing's commitment to continue opening up the sector to foreign companies.

The Beijing Bureau of China Securities Regulatory Commission (CSRC) granted a fund sales licence to the U.S. bank's Chinese securities brokerage unit on Friday, an official record shows.

© Reuters. FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021.  REUTERS/Brendan McDermid/File Photo

The approval comes after China's top economic and financial leaders recently voiced continued support to international companies' China expansion.

The CSRC granted rival U.S. investment bank Morgan Stanley (NYSE:MS) a futures licence in China last month.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.