Commercial Bank clients can invest in US stock market

The China Banking Regulatory Commission (CBRC) and the US Security and Exchange Commission recently exchanged letters of cooperation to supervise their commercial banks' overseas financial management services.

The two sides have agreed to supervise certain aspects of management. China's Commercial Bank can invest in US stock markets and public funds which are recognized by the US Security and Exchange Commission.

The CBRC has already made similar cooperation agreements with the Hong Kong Securities Institute, British financial authorities, the Monetary Authority of Singapore and Japan's Financial Services Agency.

Source: People's Daily Online