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Xinhua | Updated:2017-07-01 10:23BEIJING – Chinas securities regulator has approved the establishment of two joint venture (JV) securities firms between the mainland and Hong Kong businesses.The two JVs, HSBC Qianhai Securities Ltd and East Asia Qianhai Securities Ltd, were approved under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement, Deng Ge, spokesperson for the China Securities Regulatory Commission, told a press conference Friday.HSBC Qianhai Securities Ltd., with a registered capital of 1.8 billion yuan ($265.9 million), is the mainlands first securities firm controlled by an overseas shareholder, Deng said.HSBC, in partnership with state-owned Qianhai Financial Holdings, holds a 51-percent stake in the JV.Teaming up with the Qianhai Financial Holdings and two other mainland companies, the Bank of East Asia owns 49 percent of the JV, which has a registered capital of 1.5 billion yuan.Both JVs will be based in the city of Shenzhen.Related StoriesFirms to link SAR to Belt and RoadHK trade promoter says key infrastructure projects connect HK better with mainlandBond trading link is comingChinese mainland, HKSAR sign two new agreements under CEPAHong Kong set to play key role in Southeast Asia growthPhotoFirst World Intelligence Congress kicks off in TianjinHot topics under discussion at the 2017 Summer DavosQuotable quotes at 2017 Summer DavosParticipants try their hands on making robots at Summer DavosBusiness opportunities in the pet marketDalian gears up for upcoming 2017 Summer DavosMost Viewed in 24 HoursState Council NewsPremier Li encourages Intel to expand investment in ChinaPremier: Renovate NE China through innovation, opening-upTop 10China rocketing on information superhighwayEditors picksAIIB expects to sign 85 members by years endChanges at the top of LeEcoChina DataThings you should know about 2017 Summer DavosQ&A With CEODedicated follower of fashionMan of steelSpecial2017 Summer DavosChinas Q1 economic dataBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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