China Approves Daiwa and Mizuho Securities Operations
Daiwa Securities Group and Mizuho Financial Group received regulatory approval to launch wholly owned securities businesses in mainland China.
The China Securities Regulatory Commission has granted regulatory approval to Daiwa Securities Group and Mizuho Financial Group to launch wholly owned securities businesses in mainland China. The notifications arrived last week, clearing the final hurdle for the two Japanese firms to begin their operations.
These approvals follow a March meeting between Chinese Vice Premier He Lifeng and a senior Japanese trade delegation. That meeting focused on expanding bilateral trade and increasing cross-border corporate investment between the two nations.
A spokesperson for Mizuho's securities unit confirmed the approval and stated the company is preparing to start operations. Daiwa Securities Group declined to comment on the development. While the Japanese firms have secured their permits, several United States rivals remain on the approval waitlist.
