CLSA could increase stake in Chinese JV
15 May 2008
Independent brokerage CLSA said it would increase its stake in its Chinese brokerage joint venture should China loosen regulations on foreign investment in the industry, state media reported. The comments by CLSA Chairman Rob Morrison came during the company's China Forum in Shanghai. Under current regulations, China allows foreign investments of 33% in investment bank joint ventures and 25% in brokerage businesses. But China has made commitments to the World Trade Organization to easing those restrictions. CLSA founded China Euro Securities Limited in 2003 in partnership with mainland firm Xiangcai Securities.
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