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CSRC grants CSFC refinancing capability
31 August 2012
Category:
News, China
The China Securities Regulatory Commission (CSRC) has approved China Securities Finance Corporation (CSFC), an entity jointly owned by Shanghai Stock Exchange, Shenzhen Stock Exchange, and China Securities Depository and Clearing Corp, to offer refinancing to local securities brokerages under the ‘relending facility’ pilot scheme from August 30, according to a report from the Securities Times on Thursday (August 30).
Under the scheme, CSFC can provide relending facilities to 11 securities houses: Haitong, China Merchants, GF, Citic, Everbright, Guotai Junan, Guosen, Galaxy, Huatai, China Securities, and SWS. The initiative aims to provide alternative capital sources for securities brokerages in order to strengthen the liquidity of the A-share market.
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