China regulator resumes securities firm approvals, issues new rules

China regulator resumes securities firm approvals, issues new rules

An advertising board (L) showing a Chinese stone lion is pictured near an entrance to the headquarters (R) of China Securities Regulatory Commission (CSRC), in Beijing, China, in this September 7, 2015 file photo. REUTERS/Jason Lee/Files

China‘s securities regulator released new equity management rules for securities companies on Friday, while saying it would resume approvals for the establishment of domestically funded securities firms.

The China Securities Regulatory Commission (CSRC) will check the source of funds used to establish securities firms, and ban the use of entrusted funds for that purpose, Chang Depeng, a spokesperson for the regulator, said at a regular news briefing on Friday.

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