(Shenzhen Daily)
Updated: 2007-09-11 10:18

Regulator aren't likely to approve the opening of new brokerages for the next few years, the Shanghai Securities News reported yesterday.

"The existing 107 brokerages (in China) are basically adequate for the market to develop. The major task (for the regulators) in the near future will be to support well-established brokerages and crack down on poor-performing ones and meanwhile improve corporate governance within the sector." the report quoted an official as saying.