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Goldman to acquire full control of securities JV--China Economic Net

  US investment bank Goldman Sachs Group Inc is moving closer to gaining full control of its securities business in China after signing an agreement to buy out its local joint venture partner. The deal will likely make Goldman Sachs the first foreign bank to gain 100 percent ownership of its securities joint venture on the Chinese mainland after China s top securities regulator removed foreign ownership restrictions in April to further open the country s financial services industry to overseas investors. Under the agreement, Goldman Sachs will boost its current stake of 51 percent to 100 percent in its China securities JV. A spokeswoman at Goldman Sachs Beijing office confirmed the agreement on Wednesday. Goldman Sachs has commenced the formal process of acquiring 100 percent of our China joint venture Goldman Sachs Gao Hua, the spokeswoman told China Daily. We have signed a definitive agreement with our joint venture partner to acquire all of the outstanding shares in GSGH

China s leading fruit retailers will go public in 2021

China s leading fruit retailers will go public in 2021 According to various reports, Shenzhen Pagoda Orchard Industrial Development Co. Ltd, commonly known as Pagoda, is planning its listing on the China National Stock Exchange. The company has already signed on with Minsheng Securities as the advisory body for the IPO and registered this at the Shenzhen Securities Regulatory Office on November 10 this year. This also means that 19 years after its inception, Pagoda is about to become China s first publicly traded fruit chain. In April of this year, Pagoda already underwent a shareholding reform, converting from a limited liability company into a corporation. On June 1, Pagoda submitted its application to the international division of the China Securities Regulatory Commission with the intent of being listed on the Main Board of the Hong Kong Stock Exchange, and the commission granted its approval on September 10. The latest reports indicate that Pagoda has now changed its plans and

Deutsche Bank secures China fund custody license

Article content SHANGHAI Deutsche Bank’s China business has received a domestic fund custody license from the China Securities Regulatory Commission, the bank said on Thursday, showing how international financial services companies are keen to enter the country’s fast-growing fund market. The license, subject to what Deutsche Bank said was an “administrative process,” will allow the bank to hold securities for safekeeping on behalf of mutual funds and private funds domiciled in China. We apologize, but this video has failed to load. Try refreshing your browser, or Deutsche Bank secures China fund custody license Back to video Deutsche Bank follows Citigroup, which became the first U.S. bank to receive a fund custody license in September.

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