Brokerages to get a boost over securities

Chinese financial authorities plan to relax supervision over the operation of securities by introducing a "negative list" into the industry, China Securities Journal reported on Thursday.

Draft rules have been introduced that aim to push forward innovation by brokerages, CSJ reported. According to the draft, the authority will issue a "negative list", which clarifies which are "shouldn't do" businesses and enables the brokerages to develop any kind of business that is not included in the list.

Meanwhile, the authorities aim to reform the license management system, lower the threshold for access and support financial organizations adopting equity incentives for senior executives and key personnel.