China Banking Regulatory Commission(CBRC) and the U.S. Securities and Exchange Commission (SEC) reached an agreement cooperation on Chinese commercial banks valet offshore financial business, said CBRC.

The agreement means that Chinese commercial banks can valet investment in U.S.'s stock market as well as the Public Offering Funds that have been recognized by the SEC. The regulatory agencies on both sides said that they will improve the information exchange and regulatory assistance to promote the business develop healthily.