BNP Paribas Gains Approval for Wholly-Owned Securities Brokerage Subsidiary in China
BNP Paribas, a major global financial group headquartered in Paris, has secured approval from the China Securities Regulatory Commission (CSRC) to establish a fully owned securities brokerage unit in China. This marks a significant step for BNP Paribas as it expands its presence in the world's second-largest economy.
The approval, which comes after BNP Paribas' application in 2021, will allow them to set up a platform in Shanghai with a registered capital of 1.1 billion yuan (approximately $152 million). This new unit will offer a range of services, including:
- Securities brokerage
- Proprietary trading
- Securities investment consulting
- Securities asset management
By establishing this local presence, BNP Paribas aims to strengthen its product and solution offerings for both domestic and international clients within China.
The approval for BNP Paribas reflects a broader trend of foreign financial institutions seeking to tap into China's rapidly growing financial market. China's economic reforms have opened doors for international players, creating exciting opportunities for expansion.
Investor
Outbound region
Inbound region
Industry
Date of record
15 April 2024
