Credit Suisse announced on Thursday that Credit Suisse Founder Securities Limited (CSFS), its joint venture company in China had got approval from China Securities Regulatory Commission to launch the securities brokerage business in the Qianhai free trade zone in Shenzhen.
Established in October, 2008, CSFS is the first Sino-foreign jointly-funded securities dealer, which had got approval from China's top securities regulator to expand its business scale. The JV has 33.3 percent of its equities held by Credit Suisse, and 66.7 percent by Founder Securities.
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