BEIJING, April 18 (Xinhua) -- China Securities Regulatory Commission (CSRC), the Chinese securities regulator, gave recently a nod to BNP Paribas' establishment of a solely-funded securities firm in China, reported Xinhua-run Economic Information Daily on Thursday.
The new securities firm is registered in Shanghai with 1.1 billion yuan of registered capital, which will completely be offered by BNP Paribas.
The CSRC's approval was given on April 12. Upon fulfilling certain business registration and licence-granting procedures, BNP Paribas' new securities firm will be allowed to run securities brokerage, proprietary trading, investment consultancy, and related asset management business, according to an approving document posted on CSRC's website.
After foundation of a consumer finance joint venture in 2015 and a wealth management joint venture in 2023, establishing the new securities firm in China marked another move by BNP Paribas to seek fortune in China's financial market.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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