Nomura Holdings Inc. said Friday it has won approval from Chinese regulators to establish a majority-controlled brokerage, as the world’s second-largest economy seeks to open up its financial sector to foreign companies.
The move follows UBS Group AG based in Switzerland, which became the first foreign bank to increase its stake to gain majority control of a securities joint venture in China. The bank said in November that it won approval.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.