China to Regulate Online Stock TradingChina's securities regulators have already drafted provisional regulations on on-line stocking which will soon be issued.The regulations will ban non securities companies such as Internet portals from engaging in any kind of online brokerage. Securities companies who have licenses for stock brokerage will have to apply for qualification for Internet brokerage, sources said. China now has 10 million Internet users and more than 40 million stock investors. It is estimated that there are now 100, 000 investors nationwide that trade stocks on the Internet. Experts predicted that with improving Internet safety, higher browsing speed, greater Internet coverage and lower costs, online stock trading will witness a rapid development in China. |
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