Morgan Stanley is planning to set up a futures company in China after local authorities accepted its application. The US investment bank and others following in its wake should have much to look forward to in this fast-growing corner of China’s markets.
An approval would give Morgan Stanley the chance to become the second foreign bank after rival JPMorgan to wholly own a futures company in China.
Derivatives is one of the few Chinese markets still keen to open up amid a finance industry overhaul that has led to Beijing exerting tighter control.
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