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Goldman Sachs takes control of its securities business in China

China’s authorities have allowed US investment bank Goldman Sachs to take full control of its securities business in the People’s Republic. Goldman now seeks to acquire the remaining shares in the joint venture Goldman Sachs Gao Hua Securities Company Ltd (GSGH). This was reported by Wall Street Journal. The financial institution had already filed for approval to increase its stake in the business in December last year. On Monday, the China Securities Regulatory Commission gave its approval, the company said.

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