CHINA plans to launch a unified account platform for securities investors in October, a move aimed at promoting integration among different systems in the country’s capital markets, China Securities Journal said Friday.

    The platform will allow investors to own a single account that will be able to trade through different brokerages and on different stock exchanges, the newspaper said, quoting Zhou Ming, board director of China Securities Depository and Clearing Co., the State-owned company that provides clearing services for Shanghai and Shenzhen stock exchanges.

    The unified platform will eliminate 49 differences in the way trading is conducted and managed by the Shanghai and Shenzhen exchanges, Zhou was quoted as saying. A regulation limiting individual investors to trading through only one brokerage also would be abolished.

    The integration of the account system will provide a basis for brokerages to conduct comprehensive wealth management business and help reduce operating costs, the newspaper separately quoted an unidentified official at the China Securities Regulatory Commission as saying. (SD-Agencies)