Mizuho Green-Lighted to Form Securities Firm in China
Tokyo-based Mizuho has been approved by regulators to establish a wholly-owned securities firm in mainland China.
Mizuho has received approval to set up a wholly-owned securities firm in Beijing, according to a statement by the China Securities Regulatory Commission (CSRC). The subsidiary will be owned by the securities arm of Mizuho Financial Group with registered capital of 2.3 billion yuan ($320 million). Approval was obtained two years after the CSRC received the application.
In 2020, China removed foreign ownership caps on securities companies and global financial institutions have since been gradually entering the market, including Goldman Sachs and BNP Paribas.
