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China allows Morgan Stanley to establish a China Futures entity

SHANGHAI, May 26 (Reuters) – China’s securities regulator said on Friday it had allowed Morgan Stanley (MS.N) to set up a Chinese futures company in Beijing to help open up the country’s futures market.

“In the next step, the China Securities Regulatory Commission (CSRC) will further deepen futures market opening and support qualified foreign institutions to invest in domestic futures companies,” the regulator said in a statement.

Morgan Stanley said in April it looked forward to establishing a futures company in China after the country’s securities regulator accepted its application.

Reporting by Shanghai Newsroom Editors by Peter Graff

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