Japan's Mizuho applies to set up securities company in China

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Citigroup and Standard Chartered are also in the process of establishing securities units in China

Staff Writer, Reuters News

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Japanese bank Mizuho has sought to establish a securities company in China, becoming the latest foreign firm to make an inroad into China's onshore securities market with a fully-owned entity.

The China Securities Regulatory Commission has received Mizuho Securities' application, according to a filing record issued on Wednesday from the regulator's website.

Citigroup and Standard Chartered are also in the process of establishing securities units in China after Beijing allowed wholly-owned foreign securities companies in 2019.

(Reporting by Beijing and Hong Kong newsroom; Editing by Jacqueline Wong and Mrigank Dhaniwala)

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