Goldman Sachs(US:GS) Zhong Guo Ji Jin Bao·2025-09-28 09:15Core Points - Goldman Sachs' Chinese futures subsidiary, Qian Kun Futures, has been approved for a change in ownership, now fully controlled by Goldman Sachs China [1][3] - The approval marks a significant step in Goldman Sachs' strategy to expand its presence in China's financial markets [4] Company Summary - Qian Kun Futures was previously 95.1% owned by Beijing Gao Hua Securities and 4.9% by Goldman Sachs China, but is now wholly owned by Goldman Sachs China with an investment of 317 million yuan [3] - The acquisition process took over four years, starting with a share transfer agreement signed in April 2021 [3] - Following the approval, Qian Kun Futures will operate under Goldman Sachs China, which also includes Goldman Sachs (China) Securities and Beijing Shengze Investment as part of its operations in China [4] Industry Summary - Since the lifting of foreign ownership restrictions in January 2020, there are now four wholly foreign-owned futures companies in China: JPMorgan Futures, Morgan Stanley Futures, UBS Futures, and Qian Kun Futures [8] - The first foreign-owned futures company was JPMorgan Futures, which transitioned to full foreign ownership in 2020 [8] - Regulatory bodies have introduced multiple measures to open up the futures industry, including new products for Qualified Foreign Institutional Investors (QFII) [9]