The China Securities Regulatory Commission gave Goldman Sachs the go-ahead to buy out Beijing Gao Hua Securities, its local partner, as Beijing tries to make good on a pledge it made in 2017 to allow foreign investment banks to fully own their China operations.
Goldman Sachs reached a deal to buy a remaining 49% stake in Goldman Sachs Gao Hua from its Chinese partner in December 2020. The price was not disclosed. The company will be renamed Goldman Sachs China Securities Company.
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