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Article: CHINA'S HUATAI SECURITIES BUYS 49% STAKE IN GREAT WALL FUTURES.
- Article from:
- AsiaPulse News
- Article date:
- August 1, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Aug 1 Asia Pulse - Leading brokerage Huatai Securities has bought 49 per cent of Great Wall Futures, the latest sign of Chinese securities firms' growing interest in futures houses as the trading of financial futures approaches.
Both sides declined to reveal the financial terms involved in the deal, which was approved by the securities regulator on July 21.
Securities brokerages, under existing regulations, can only buy less than 50 per cent of futures firms.
The latest acquisition "could provide Huatai with a much-coveted access to the upcoming financial futures trade," an official from Huatai Securities told China Daily yesterday.
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