China Issues Online Stock Trading RegulationsChina's securities regulators recently issued provisional regulations for on-line stock trading, thereby legalizing a business that has been growing in China but without the blessing of the regulators.The regulations issued by the China Securities Regulatory Commission (CSRC) ban non-securities companies such as Internet portals from engaging in any kind of online brokerage. Even securities companies which have licenses for stock trading must apply for qualification for Internet brokerage, according to the regulations. The CSRC demands Internet stock brokers separate their online trading system from other systems. Since 1997, more than 20 securities companies in China have opened online stock trading. According to CSRC chairman Zhou Xiaochuan, online trading now accounts for one percent of the total stock trading volume in China. |
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