Standard Chartered’s London headquarters. The bank is setting up a securities business in China.PETER NICHOLLS/REUTERS Chinese regulators have been busy recently in approving foreign financial firms to set up, or take control of, businesses in China. The latest example is U.K. bank Standard Chartered. StanChart on Thursday won permission to set up a wholly-owned securities business in China, which will be able to offer brokerage, underwriting and other services. It is following in the footsteps of other banks, including U.S. institutions such as Goldman Sachs . Other recent approvals include: Schroders last week received approval to establish a wholly foreign-owned public fund-management company. In December, Fidelity International received final approval to start selling mutual funds in China, joining peers like BlackRock and Neuberger Berman that can now directly manage money for Chinese individual investors. In November, insurer Chubb was cleared to take control of its Chinese joint venture. China scrapped ownership restrictions for foreign financial institutions in 2020, part of a trade deal signed by then-President Donald Trump and Liu He, China’s vice premier. Before then, foreign investment banks, asset managers and card networks were barred from operating on their own in China.
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
