Goldman Sachs granted licence for China fund sales

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December 13, 2024 8:11 AM EST

FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo

By Selena Li

HONG KONG (Reuters) - Goldman Sachs received regulatory approval to sell funds in China, the latest U.S. investment bank to get a financial licence in a sign of Beijing's commitment to continue opening up the sector to foreign companies.

The Beijing Bureau of China Securities Regulatory Commission (CSRC) granted a fund sales licence to the U.S. bank's Chinese securities brokerage unit on Friday, an official record shows.

The approval comes after China's top economic and financial leaders recently voiced continued support to international companies' China expansion.

The CSRC granted rival U.S. investment bank Morgan Stanley a futures licence in China last month.

(Reporting by Selena Li. Editing by Jane Merriman)


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