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[HONG KONG] China will allow companies owned by the central government to trade overseas derivatives without having to seek approval in advance from the state assets regulator, according to three sources with knowledge of the matter.
The move would encourage more large Chinese companies to trade in global derivatives markets, marking a significant step after years of strict controls.
The state assets regulator would also support these companies in obtaining foreign exchange quotas needed to conduct such business from the State Administration of Foreign Exchange, according to the sources.