Chinese brokerages Guotai Junan, Haitong Securities get nod for merger

Chinese brokerages Guotai Junan, Haitong Securities get nod for merger

FILE PHOTO: A cyclist rides past a branch of Haitong Securities, in Shanghai, China, January 26, 2017. REUTERS/Aly Song/File Photo

China’s securities regulator on Friday approved the merger of Guotai Junan Securities and Haitong Securities, giving the final nod to a deal that would create a $230 billion brokerage powerhouse.

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