China Said to Weigh Easing Curbs on Foreign Securities Firms

China is considering sweeping changes to its securities industry that would allow foreign banks to control their local joint ventures and broaden their offerings, said people with knowledge of the matter.

Overseas firms could be allowed to own majority stakes in local ventures as soon as this year, and they may ultimately be able to take full control, said the people. Regulators also plan to give foreign-owned joint ventures permission to expand into areas beyond stock and bond underwriting, they said, asking not to be named as the deliberations are private.