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Goldman Sachs gets regulator nod for full ownership of China securities JV

The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray

Oct 18 (Reuters) – Goldman Sachs (GS.N) said on Sunday it received an approval from China’s securities regulator to take full control of its mainland securities business.

The U.S. bank said it will buy the remainder of Goldman Sachs Gao Hua Securities Company Ltd (GSGH), and rename it as Goldman Sachs (China) Securities Company Ltd.

It also said the migration of its onshore business units to GSGH from Beijing Gao Hua Securities is underway.

Reporting by Nikhil Kurian Nainan in Bengaluru; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

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