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China banks keen to take on brokerages as govt hints at opening sector

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Assets of Chinese brokers, protected by restrictions on new entrants, doubled last year to 4.09 trillion yuan as trading volumes hit records.

Shanghai

CHINESE banks are preparing to take advantage of any easing of government restrictions to challenge the likes of Citic Securities Co and China International Capital Corp (CICC) in the nation's booming brokerage industry.

Industrial Bank Co plans to acquire Huafu Securities