On 4 May, CSRC proposed foreign investments in futures firms.
- To enhance economic capability and competitiveness of China’s futures industry.
- A foreign-invested futures company is defined futures company in which single
or associated foreign shareholder holds more than 5% of the company’s equity.
- Shareholders must have good international reputation, operating performance.
- Foreign investors are required, to control over 5% of stock of futures company.
- Number of senior managers with nationality of People’s Republic of China must
not be less than one third of the total number of senior management personnel.
- Contains requirement for the deployment of text language, information system.
- To make further revisions, publish procedures after publicly soliciting comments.