China approves seventh foreign-owned brokerage, Citi Securities
Briefing by News4U · First published
China’s securities regulator approved the establishment of Citi Securities (China), the seventh wholly foreign-owned brokerage, with 1.2 billion yuan capital and full securities licenses.
China’s securities regulator approved the establishment of Citi Securities (China) on October 23, making it the seventh wholly foreign-owned brokerage in the country. [1] [2]
The new firm will be based in Shanghai with 1.2 billion yuan in registered capital fully owned by Citigroup Global Markets Holdings. Its licensed activities include securities brokerage, investment advisory, underwriting and sponsorship, and proprietary trading. [1] [2]
The regulator requires the company to complete incorporation within six months, file its articles of association, and comply with cybersecurity and investor-protection rules. [2]
Sources
- 快讯
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