Foreign securities firms scramble for the Chinese market.

Feb 6, 2021#fiance20

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Foreign securities firms are rushing into the Chinese market, with a total of 8 foreign-controlled securities firms approved by the China Securities Regulatory Commission. Some firms achieved controlling stakes through increasing their shareholdings, while others are newly established. In addition to the securities market, foreign firms are also targeting the fund and futures sectors. Morgan Stanley Futures became the first fully foreign-owned futures company in China, and BlackRock Fund obtained the first foreign-owned public fund license and established the first fully foreign-owned fund company in the country.

So far, there have been 8 foreign-controlled securities firms approved by the China Securities Regulatory Commission. Among them, UBS Securities, Goldman Sachs Gao Hua Securities, Credit Suisse Founder Securities, and Morgan Stanley Huaxin Securities have achieved controlling stakes through increasing their shareholding ratios as foreign shareholders; Morgan Stanley Huaxin Securities (China), Nomura Orient International Securities, Daiwa Securities, and DBS Securities are newly established securities firms.

In addition to entering the securities market, foreign firms are also targeting areas such as funds and futures. In June 2020, the China Securities Regulatory Commission approved Morgan Stanley Huaxin Futures as the first foreign-controlled futures company in China. In August 2020, BlackRock, the world's largest asset management company, obtained the first foreign-owned public fund license in China and established the first wholly foreign-owned fund company.