TOKYO -- Japanese brokerage house Daiwa Securities Group said on Monday that it has received the green light for its plan to launch a majority-owned joint venture in Beijing, a move that indicates Japanese banks' keen interest in business in China despite the U.S. efforts to isolate the country in a bitter trade war.
Finance
Japan's Daiwa gets green light for investment banking in China
Foreign banks keen to enter market despite US efforts to isolate nation
Daiwa will set up a joint venture, Daiwa Securities (China), with 1 billion yuan in capital. The joint venture will be owned 51% by Daiwa, and the rest by Chinese companies. (Photo by Rie Ishii)
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