BEIJING, Jan. 8 (Xinhua) -- UBS AG is considering increasing the capital of its securities joint venture (JV) in China, Monday announced David Chin, head of its Corporate Client Services, APAC, on the 19th UBS Greater China Conference in Shanghai.
According to Chin, the development of brokerage businesses to some extent depends on capital strength, therefore UBS securities Co. will increase capital at the appropriate time.
UBS AG became the first international bank to increase its stake and take majority control in its securities joint venture (JVs) in China at the end of 2018 thanks to China's new rules issued last May to further open up its financial market. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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