ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Sumitomo Mitsui files to launch Chinese brokerage

Megabank follows Nomura and Daiwa on path for a new securities unit

Shanghai's financial district: China lifted all foreign ownership limits on securities companies in April 2020.   © Reuters

TOKYO -- Sumitomo Mitsui Financial Group has applied to establish a brokerage in China, joining several other Japanese banks in tapping relaxed foreign ownership rules there.

The Japanese megabank and unit SMBC Nikko Securities submitted a joint application dated Tuesday to the China Securities Regulatory Commission. They will ramp up preparations to launch the new company based on the CSRC's decision.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more