HONG KONG, Nov 26 (Reuters) - Credit Suisse Group AG said on Thursday its investment banking joint venture in China had received regulatory approval to provide securities brokerage services in the country’s Shenzhen Qianhai development zone. The joint venture, Credit Suisse Founder Securities Ltd, is the first Sino-foreign firm to receive such approval since China rewrote the rules for foreign participation in its securities industry in 2007. (Reporting by Lawrence White)
Credit Suisse has said that its investment banking joint venture in China has received regulatory approval to begin providing securities brokerage services in the Shenzhen Qianhai development zone. The move comes as China’s stock market is on a tear and investors are looking for ways to diversify their portfolios.