(Reuters) – Goldman Sachs 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)
