Chinese brokerages rush to raise billions to meet regulatory rules as competition from US banks looms

Chinese brokerages rush to raise billions to meet regulatory rules as competition from US banks looms

The company logo of China International Capital Corporation Ltd (CICC), China’s first joint venture investment bank, is displayed at a news conference on the company's annual results in Hong Kong, China March 30, 2016. REUTERS/Bobby Yip

Chinese brokerages are in a race to raise billions of dollars in capital to meet regulatory requirements, jumping on a market upturn to bolster operations as they brace for tougher competition from Wall Street banks on their home turf.

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