Member Article

On 6 September 2024, the China Securities Regulatory Commission (CSRC) publicly released feedback regarding an application submitted by Mizuho Securities Co., Ltd. (Mizuho Group) for the establishment of Mizuho Securities (China) Co., Ltd. (“瑞穗证券（中国）有限公司”).

If approved, Mizuho Group will become the fifth foreign financial group to establish a wholly foreign-owned (WFOE) securities company in China, joining the ranks of J.P. Morgan, Goldman Sachs, Standard Chartered, and BNP Paribas, which currently represent the four existing WFOE securities companies. Overall, this would increase the total number of foreign-invested securities companies in China to 19.

Additionally, a number of other foreign financial groups are also seeking entry into the Chinese financial services market. Based on public information on CSRC's website, Citigroup and Intesa Sanpaolo have also submitted applications to CSRC to establish their own securities companies in China.