Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

Foreign institutions rev up layouts in China as capital market opens wider

August 16, 2021


Abstract : With the continuous opening-up of the Chinese capital market, an increasing number of foreign institutions are moving faster to expand business in China since this year, reported China Securities Journal Monday.


139825533_16163296390771n.jpg

Photo taken on Sept. 30, 2020 shows the street view of the Lujiazui area of Pudong, east China's Shanghai. (Xinhua/Wang Xiang)

BEIJING, Aug. 16 (Xinhua) -- With the continuous opening-up of the Chinese capital market, an increasing number of foreign institutions are moving faster to expand business in China since this year, reported China Securities Journal Monday.

J.P. Morgan announced on August 6 that its file for turning J.P. Morgan Securities (China) Company Limited, a sino-foreign joint venture securities firm, to its wholly-owned subsidiary has won the approval of the China Securities Regulatory Commission (CSRC). J.P. Morgan Securities (China) Company Limited will be the first securities firm in China that is wholly owned by foreign capital.

On the same day, Standard Chartered Bank (HK) Limited's application for establishing a securities company was accepted by CSRC.

Other foreign-controlled securities firms winning the approval of CSRC include Nomura Orient International Securities Co., Ltd., Daiwa Securities (China) Co., Ltd., DBS Securities (China) Co., Ltd., UBS Securities Co. Limited, Credit Suisse Securities (China) Limited, and Morgan Stanley Securities (China) Co., Ltd., etc..

Goldman Sachs Gaohua Securities Co., Ltd., a joint venture securities company co-established by U.S. investment bank Goldman Sachs and Chinese firm Beijing Gaohua Securities Co., Ltd., was approved by CSRC on July 28 to engage in alternative investment business through subsidiaries, but limited to following others in Science and Technology Innovation Board and Growth Enterprise Market investment.

In terms of public offering funds, Fidelity Fund Management (China) Co., Ltd. was approved for establishment by CSRC on August 6, becoming the second wholly foreign-owned public fund management company in China after BlackRock.

The foreign institutions' zest of entry into the Chinese market is attributed to the accelerating opening-up of the Chinese capital market, said Chen Li, chief economist with Chuancai Securities based in Chengdu of southwest China's Sichuan Province.

On the one hand, Chen noted, the threshold for foreign investment has continued to be lowered, greatly easing the layouts of the Chinese assets by foreign investors and improving their investment enthusiasm, and on the other hand, enterprises with development prospects are mushrooming under the IPO registration system, attracting increasing attention from foreign institutions.

(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

Scan the QR code and push it to your mobile phone

Keyword: foreign institutions Chinese capital market

Most Read

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial