Ruidong Group, a long-established Hong Kong securities firm in which Jack Ma’s Yunfeng Fund has invested, recently announced that，Will launch a mainland joint venture with Shi Yuzhu's Giant Investment and others。According to relevant regulations，The joint venture can obtain a domestic brokerage license，Awaiting approval from China Securities Regulatory Commission。this means，After Alibaba obtained a banking license，Will obtain domestic securities dealer license。
Although domestic brokerage licenses are still not fully open to private capital,，But Jack Ma’s Alibaba department will soon use a joint venture with a local securities firm in Hong Kong to，Achieve "overtaking on corners"。this means，After Alibaba obtained a banking license，Will obtain domestic securities dealer license。
Ruidong Group announced on February 4 that，Regarding the announcement of the establishment of a mainland securities joint venture in September last year，The company signed a sponsor agreement with Yuyue Technology and Shi Yuzhu’s Giant Investment，在深圳成立合营公司，The agreement will take effect upon approval by the China Securities Regulatory Commission.。
The registered capital of the joint venture is RMB 1 billion.，Ruidong Financial will hold 43% of the shares，Giant Investment and Yuyue Technology hold 30% and 27% respectively，The company will invest 430 million yuan。The parties agree that the total investment amount of the joint venture will reach RMB 3 billion.。After the joint venture is established，The company will control a majority of the seats on the joint venture's board of directors，The joint venture will therefore become a subsidiary of the Company。
The Company expects that the Group and its joint venture partners will rely on the Mainland and Hong Kong Closer Economic Partnership Arrangement(CEPA)，Hong Kong-funded financial institutions that meet the regulations to establish foreign-funded securities companies，According to the regulations of Mainland China for Mainland Chinese shareholders who are not securities companies,，Establishing a fully licensed joint venture securities company in a specific field。
2013August，Supplement 10 to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) signed by the State Council of the People's Republic of China and the Government of the Hong Kong Special Administrative Region of the People's Republic of China.："Mainland securities companies、证券投资机构对港澳地区进一步开放，Allow Hong Kong capital that meets the conditions to establish foreign-owned securities companies、澳资金融机构分别按照内地有关规定在深圳市、Guangdong Province、Shenzhen City will each establish a fully licensed securities company jointly owned by the two places.，Hong Kong capital、The combined shareholding ratio of Australian capital can reach up to 51%，Mainland shareholders are not limited to securities companies”。
Ruidong Group is an established securities company in Hong Kong.，Last year, it acquired shares from Jack Ma’s private equity fund Yunfeng Fund.。JadePassion, a 73.21% subsidiary of Yunfeng Holdings, invested HK$2.68 billion last year，Subscribed 1.34 billion shares of Ruidong，Equivalent to approximately 56% of the enlarged issued share capital。in fact，The state has begun to promote private capital to enter the securities industry since 2014.。
2014May，The State Council issued "Several Opinions on Further Promoting the Healthy Development of the Capital Market" (the "Nine New Articles")，It is clearly proposed to improve the competitiveness of the securities and futures service industry，Relax business access。
Implement openness and transparency、An orderly management system for securities and futures business licenses，Research securities companies、Fund management company、Futures company、证券投资公司等交叉持牌，Support other qualified financial institutions to apply for securities and futures business licenses on the basis of risk isolation.。Actively support private capital to enter the securities and futures service industry。Support securities and futures operating institutions and other financial institutions to control each other on the premise of controllable risks.、Exploring comprehensive management through equity participation。
subsequently，The Internet Securities Professional Committee promoted by the China Securities Regulatory Commission was established。April last year，Zhang Yujun, then assistant to the chairman of the China Securities Regulatory Commission, invited Ant Financial Group、Baidu、tencent.com、Executives from JD Finance and other companies exchange experiences with the securities and futures industry，Later, he expressed his support for "Internet + asset management"，Approval of Internet fund sales and other businesses。
But so far，Officials still have not fully liberalized the access mechanism for the securities industry.，And the Ali department has long been unable to restrain its eagerness.，Staged a "curved overtaking"。certainly，Alibaba is not the only company doing this。Guangdong Rongsheng Super Micro also announced last month that，Plans to cooperate with Hong Kong securities firm AMTD、Shenzhen Chuangsheng jointly established a joint venture securities company in Guangdong。The shareholding ratio is 30% of Rongsheng Super Micro.，Hong Kong AMTD 51%，Shenzhen Chuangsheng 19%。
The announcement clearly mentioned the contents of CEPA Supplement 10，It also said that this investment aims to "seize the development opportunities brought about by financial reform and financial cooperation between Guangdong and Hong Kong.，Develop new business and profit growth points”。
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