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Banks

China regulator approves first wholly foreign-owned money market broker

FILE PHOTO: Buildings in the Central Business District (CBD) are seen lit up during the night in Beijing, China April 15, 2021. Picture taken April 15, 2021. REUTERS/Tingshu Wang

BEIJING (Reuters) - China’s banking and insurance regulator’s Beijing office approved to launch the country’s first wholly foreign-owned money market broker.

The company, Ueda Yagi Money Broking (China) Co Ltd, will be China’s sixth money broking firm, which is entitled to operate brokerage business in forex, money, and bond markets.

Reporting by Colin Qian and Tony Munroe, editing by Louise Heavens

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