THE People's Bank of China has granted MAI a licence to establish a money-broking representative office in Beijing. MAI's wholly owned subsidiary, Harlow Butler, would be the first money broker to establish a presence in the capital, it said. ''This will provide an ideal opportunity for the group to participate first hand as the financial markets in China deregulate, and will also enable the group to assist in the development of these markets,'' it said. Harlow Butler (Hong Kong) has been servicing clients in China for the past 12 years. The Beijing representative office would enable the group to enhance its relationships with clients and the authorities. This new venture was a significant development in group strategy and would eventually make an important contribution to the group's global network, it said.