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China allows brokerages to issue bonds

Xinhua, July 1, 2015 Adjust font size:

China's securities watchdog on Wednesday allowed stock brokerages to issue bonds to widen their funding channels after a continued losing streak on the country's stock market.

Brokerage were allowed to issue or transfer short-term corporate bonds via stock exchanges and private equity trading systems between institutions, according to a statement of the China Securities Regulatory Commission (CSRC).

In addition, the CSRC said brokerage firms can start the securitization of the right to derive profit from their margin trading business. Endi