Goldman Sachs Receives Approval to Sell Funds in China

By Selena Li

HONG KONG (Reuters) – Goldman Sachs has received regulatory approval to sell funds in China, marking a significant step for foreign investment in the country. This approval is part of Beijing's commitment to continue opening up its financial sector to international companies.

According to an official record, the Beijing Bureau of the China Securities Regulatory Commission (CSRC) granted a fund sales licence to Goldman Sachs' Chinese securities brokerage unit on Friday.

This move follows a series of statements from China's top economic and financial leaders expressing ongoing support for the expansion of international companies in China.

Last month, the CSRC also granted rival U.S. investment bank Morgan Stanley a futures licence in China.