JPMorgan, Morgan Stanley Approved For Joint Securities Ventures With China

HONG KONG — Two U.S. investment banks say they’ve been given the green light in China to operate domestic securities businesses with local partners.JP Morgan Chase & Co. said Friday that the China Securities Regulatory Commission approved …

HONG KONG — Two U.S. investment banks say they’ve been given the green light in China to operate domestic securities businesses with local partners.

JP Morgan Chase & Co. said Friday that the China Securities Regulatory Commission approved its joint venture with First Capital Securities Co. while Morgan Stanley said its partnership with Huaxin Securities Co. has also been approved.

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