Guosen Securities' (SHE:002736) subsidiary, Guosen Securities Asset Management, obtained a license to operate securities and futures businesses, according to a Shenzhen Stock Exchange disclosure on Thursday.
The scope of the securities and futures business is securities asset management. The asset management unit will also be allowed to operate as a securities brokerage, securities investment consultant and financial consultant for securities trading and other similar functions, the Chinese brokerage said.
Guosen Securities' shares rose more than 1% in recent trade.
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