The Pacific Securities Co., Ltd. (601099.SH) announced on Monday evening that it had been approved by the China Securities Regulatory Commission (CSRC), the top securities regulator, to pilot internet securities business.
The broker announced on December 25 that it signed a securities business cooperation agreement with Chinabank payments, a wholly-owned subsidiary of online shopping giant www.JD.com. to jointly provide securities services for online clients.
The cooperation between the two sides is expected to help the broker realize business transformation and upgrading, said an analyst with BOC International (China) Limited. (Edited by Li Xueqing, firstname.lastname@example.org)