BEIJING, July 28 (Reuters) - Goldman Sachs’ China securities venture obtained approval from the Chinese securities watchdog on Wednesday to conduct alternative investment business via a subsidiary. The China Securities Regulatory Commission said Goldman Sachs Gao Hua Securities Co should strengthen its risk control over its subsidiary and prevent a conflict of interest, according to a statement on its website. (Reporting by Beijing Newsroom, Editing by Louise Heavens) Our Standards: The Thomson Reuters Trust Principles.