BEIJING, July 4 (Xinhua) -- Guotai Junan Securities (Guotai Junan), a leading Chinese securities firm, has been approved by the Chinese securities regulator to set up a subsidiary in Macao Special Administrative Region (Macao SAR) on June 29.
Guotai Junan said that it has received a formal approval from China Securities Regulatory Commission (CSRC) to set up a subsidiary and run finance or finance-related business in Macao SAR.
The Macao subsidiary, which will be formally established after its obtaining a corresponding approval from the Monetary Authority of Macao, marked an important step for its layout in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) market.
By leveraging Guotai Junan's advantages in comprehensive financial services, the Macao subsidiary aims to provide wealth management services including buying, selling and trading of global stocks, bonds and structural products and actively develop securities issuance and other businesses in the Macao SAR.
In the future, the Guotai Junan Macao subsidiary will seize opportunities in interconnectivity within the GBA and related opening up to grow itself and facilitate Macao SAR to build an internationalized securities exchange and develop modern finance industry. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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