China to drive international asset trading in Shanghai FTZ

Monday 19 May 2014 11:37 CET | News

China has revealed plans to set up an international energy trading centre in its Shanghai pilot Free Trade Zone (FTZ), online media outlet reveals.

The China Securities Regulatory Commission (CSRC), which supervises the securities and commodities futures markets, has approved the Shanghai Stock Exchange to set up a platform to trade international financial assets in the FTZ as part of government policy to support the zone.

The regulator has also pushed Chinese brokerages and fund asset management firms to set up branches in the zone, with about a dozen of such subsidiaries having now been established there.

Cao Yan Wen, deputy director of the FTZ fiscal and financial services bureau, said the FTZs planned outbound stock investment scheme would be wider in scope than the Shanghai-Hong Kong cross-border stock investment scheme.

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Keywords: China, Shanghai FTZ, international asset trading, ecommerce
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech