In the News: First Foreign Broker; Europe FDI Decade Low; and Price Index Rules

June 21, 2021 | BY

Vincent Chow

CBIRC approves China's first wholly foreign-owned money broker to begin operations; Chinese investment in Europe fell to decade low in 2020; and NDRC releases new rules standardizing disclosure and compilation requirements for price index providers

London, UK.  Credit: IRStone/Adobe Stock

CBIRC approves first wholly foreign-owned money broker

A Japanese money broker is set to become the first foreign firm to operate a wholly foreign-owned currency brokerage business in China. On June 16, the China Banking and Insurance Regulatory Commission (CBIRC) announced that a wholly-owned subsidiary of Tokyo-based Ueda Yagi Tanshi has been approved to start operations in China.

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