Mizuho Financial Group of Japan recently stated that the China Securities Regulatory Commission has accepted its application to establish a securities company in China. If approved, Mizuho Securities, a subsidiary of Mizuho Financial Group of Japan, will establish a fully funded subsidiary.
The official website of the China Securities Regulatory Commission recently updated the progress of the application for the establishment of Rui Sui Securities (China) Co., Ltd. After submitting the materials on November 22, 2023, the institution made corrections to the materials on November 29 of the same year and was accepted by the China Securities Regulatory Commission on June 19, 2024.
Source: China Securities Regulatory Commission website
Institutions are accelerating their pace of business expansion
It is reported that if approved, Mizuho Securities, a subsidiary of Mizuho Financial Group in Japan, will establish a fully funded subsidiary. After opening, it will mainly engage in the bond underwriting business of Chinese enterprises, as well as the sales and trading business of the Chinese bond market.
If Mizuho Securities (China) is successfully approved, it will also become the third Japanese funded securities firm after Nomura Orient Securities and Daiwa Securities.
Since 2024, many foreign institutions have applied to establish new securities firms in China, officially announced business expansion, or sought to expand their existing business boundaries in China.
As the first foreign-owned securities firm approved for establishment in China, Standard Chartered Securities announced its official launch on March 22nd.
"We are full of confidence in the continued opening up of China's financial sector and firmly believe that the Chinese economy can successfully transform and maintain strong development momentum in the future." Wen Tuosi, CEO of Standard Chartered Group, said that seizing opportunities in China has always been the core strategy of Standard Chartered Group. We believe that the arrival of Standard Chartered Securities will enhance its ability to serve customers in China and overseas, and further improve its business layout in China.
On April 15th, the China Securities Regulatory Commission approved the establishment of BNP Paribas Securities (China) Limited, with 100% investment from BNP Paribas.
BNP Paribas stated that it has been deeply involved in the Chinese market for a long time and will continue to explore growth opportunities with the opening of the Chinese capital market. "This new business platform will enable us to provide more comprehensive financial services to domestic and foreign customers."
Open to the public for stable foot and foot disease
On the policy front, the opening up of the capital market to the outside world is a step towards stability.
The Opinions on Strengthening the Supervision of Securities Companies and Public Funds and Accelerating the Construction of First Class Investment Banks and Investment Institutions (Trial) released by the China Securities Regulatory Commission on March 15th clearly states that we will steadily expand institutional openness and support qualified foreign-funded institutions to establish institutions within China.
On March 19, the General Office of the State Council publicly released the "Action Plan for Solidly Promoting High Level Opening up and Strengthening Attraction and Utilization of Foreign Investment", which aims to attract foreign investment more vigorously by expanding market access, facilitating the flow of innovative factors, and aligning with international high standard economic and trade rules, providing a more open and convenient environment for the development of foreign financial institutions in China.
Industry insiders believe that foreign institutions have frequently landed, expressing their optimism about China and their determination to develop in the Chinese market in the long term. The relevant departments will continue to improve the facilitation level of cross-border investment and financing, which will attract more foreign financial institutions and long-term capital to come to China for business development.
"The level of China's cross-border direct investment openness has continued to improve in recent years, focusing on creating a market-oriented and international business environment, which will attract more foreign investment to China for business development," said Lu Bomai Fund.
