Rules allow for new securities business

China’s brokerages can now convert credit assets and corporate receivables into securities, according to rules published Friday by China Securities Regulatory Commission, Bloomberg reported. The expansion in regulatory framework will help boost the sector’s competitiveness. Guo Shuqing, the regulator’s chairman, has pushed through several reforms since he took the position in 2011. The regulator said it will continue to ease restrictions on China’s capital accounts this year with continued reform to Qualified Domestic Institutional Investor program, which allows brokerages, among other financial institutions, to invest in overseas capital markets.