介绍:
The board of directors at Taiwan-based CTBC Financial Holdings has approved a plan to partner with a pair of mainland companies to create a new securities firm in the Fujian Free Trade Zone.
The joint venture is poised to become the first cross-strait brokerage firm dealing with mainland A-shares.
Once established, it will operate as an investment services platform.
As part of the deal, CTBC will hold a 49 percent stake, while the two mainland firms will hold the controlling stake.
According to a plan released by the State Council, China's cabinet, Taiwan brokerage firms are allowed to set up two joint-stock securities companies that are granted a full-service license registered in the Fujian FTZ, with a 49 percent stake cap.
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