China notifies rules for market making on STAR market to improve liquidity

FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo

China’s securities regulator on Friday published rules to pilot market making on Shanghai’s tech-focused STAR Market as part of efforts to improve liquidity.

Brokerages applying for such business must have at least 10 billion yuan ($1.47 billion) in net capital, strict internal controls, and technology systems that meet regulators’ requirements, the China Securities Regulatory Commission (CSRC) said on its website.

Reuters

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