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Goldman lays groundwork for control in China onshore business

Its Chinese business partner and his associates are open to selling a controlling stake in their local JV to the firm

Having a partner who is a willing seller gives Goldman Sachs a clear path to equity control of its business in Asia's largest economy - an outcome that the company has lobbied heavily for.

Hong Kong

AS CHINA gets ready to allow foreign banks to take majority stakes in local securities joint ventures, Goldman Sachs Group Inc has been quietly laying the groundwork for an onshore business in which it will have equity control.

Goldman Sachs's business partner in China,...

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