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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	11/25/2011 7:37:07 AM
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Beijing Cracks Down on Trading Houses SHANGHAI—China's government on Thursday said it has increased scrutiny of trading houses, and that exchanges set up without Beijing's approval will be banned from trading derivatives and other financial products. The number of outfits trading commodities, artifacts, precious metals, and other items has grown in tandem with the rise in the number of wealthy people in recent years. In the January-October period, 58 trading houses were established, the state-run China Daily newspaper said Thursday. That boom is creating financial risks and posing a threat to society, the State Council said in a statement on its website Thursday. online.wsj.com

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