AsignboardofDBSSecuritiesinShanghai,onSept23,2022.[Photo/IC]
Thisyear,foreignfinancialinstitutionshavereiteratedtheirconfidenceinChina.Thiscanbeseenintheestablishmentofnewsecuritiesfirms,startingnewoperationsandexpandingexistingbusinesses,demonstratingtheirpositiveoutlookontheChinesemarket.
ForeignfinancialinstitutionsaresteppingupinvestmentsinChina,withtheDBSGroupreceivingregulatoryapprovaltoincreaseitsstakeinDBSSecuritiesfrom51percentto91percentthroughitslocalentity,asconfirmedbythegrouponNov26.
Inrecentyears,thegrouphasintensifieditsinvestmentsinChina,expandingitscommitmentbothinscaleanddepth.AccordingtotheShanghaiUnitedAssetsandEquityExchange,thetwoequitytransferprojectsofDBSSecuritieswerecompletedonNov21,totaling40percentofitssharesforthebasepriceof823millionyuan($113.42million).
MorganStanleySecurities(China)CoLtdreceivedapprovaltoexpanditsbusinessscopetoincludesecuritiesinvestmentconsultingandproprietarytradinginMarchthisyear.StandardCharteredSecurities(China)Ltd,thefirstsecuritiescompanywhollyownedbyaforeignshareholderapprovedforestablishmentinChina,alsoannounceditsofficiallaunchinMarch.