Daiwa, Mizuho clear final hurdles to launch China securities units, Bloomberg says
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- ✓Daiwa and Mizuho cleared final hurdles to launch securities units in China, Bloomberg said.
- ✓Both Japanese institutions successfully passed reviews for mainland operations.
- ✓This move helps them expand their presence while many Western competitors face long waits.
Story at a Glance
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- BUSINESS
- Reported By
- Reuters
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- 1 Minute(s)
- Market Focus
- India Economy
The move highlights expansion efforts by Japanese financial companies in China, setting them apart from several Western competitors grappling with prolonged waits for such permits.
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Both institutions were recently notified that they had successfully passed final reviews for such operations on the mainland, the report said, citing a source familiar with the matter.
Mizuho and Daiwa did not immediately respond to requests for comment. China’s financial regulators did not immediately respond to a Reuters request for comment.
The move caps long-running efforts by both institutions to build up their onshore presence.
In September last year Mizuho won the securities licence in China needed to secure a green light from regulators for operations in the domestic market. It officially applied to set up its unit in November 2023.
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