Press Room

« Back to current press releases

PFGBEST Receives China Banking Regulatory Commission Approval

CHICAGO, July 19 – PFGBEST is moving on official approval from the China Banking Regulatory Commission ("CBRC") to build on the PFGBEST brand in China. The CBRC is the primary banking regulator in China, supervising banks and non-bank institutions and their business operations within the country.

"We are happy and delighted with this approval from CBRC. As one of the first U.S. Futures & Forex firms to receive CBRC approval, we are fulfilling our long-term commitment to this fast growing market," said PFGBEST President and Chief Operating Officer Russ Wasendorf, Jr. "China is a vast, dynamic market and this permits us to use our talent and technology leadership to serve the demand through the region for global foreign exchange with many exchange-listed products. In our view, China has the potential to establish one of the largest financial services industries in the world," he said.

Mr. Kem Chong, PFGBEST Chief Representative in China said: "CBRC’s approval allows us to conduct market research and promote our most successful trader education programs. It will help us to continue expanding relationships with investors and traders, financial media, academic and technology partners, and regulators in mainland China." Kem Chong has been with PFGBEST for six years.

PFGBEST offers products that help clients achieve their sustainability goals for longer-term investing, including managed futures and foreign exchange strategies, accumulation plans for gradual purchasing of gold, silver, or foreign currencies, and many broker-assisted programs. PFGBEST’s market comments and analysis have been widely quoted by major Chinese media including Xinhua News and People’s Daily.

The PFGBEST Representative Office is located at 1366 West Nanjing Road, Plaza 66, Tower 2, Unit 2702, Shanghai, China. The contact info for the PFGBEST Shanghai Representative Office is: +86-21-6113-0198, or visit