The China Securities Regulatory Commission (CSRC) today begins to accept applications for a margin-trading and short-selling pilot program, the China Securities Journal reported.
Sources at securities brokerages told the paper local offices of the CSRC completed an on-site inspection Wednesday at all 11 brokerages competing for the license to run the business and that the commission could finalize the qualification list next week.
"The regulators are very efficient," said a source responsible for the upcoming business at one of the securities brokerages.
All 11 brokerages received the results of an earlier expert panel's evaluation, but did not know the details of the evaluation or results of the on-site inspections, the paper said.
The CSRC will refer to opinions from its local offices, the expert panel's evaluations and preliminary test reports. But sources told the paper these procedures were not difficult for the brokerages.
