Daiwa, Mizuho reportedly clear final hurdles to launch China securities units
MFG•Daiwa Securities and Mizuho Financial Group reportedly passed final regulatory reviews to launch fully independent securities operations in China.
1. Final reviews cleared
Daiwa Securities and Mizuho Financial Group were notified that they had passed final reviews for independent securities operations on the mainland, the article reported, citing a source familiar with the matter.
2. Building mainland operations
Mizuho won a securities licence in China in September last year and applied to establish its unit in November 2023. Daiwa agreed this year to buy out its local joint venture partners in a $100 million deal to enable a wholly owned structure.
3. US firms still waiting
Citigroup has awaited clearance since applying for a wholly owned mainland brokerage licence in late 2021. Citadel Securities, which applied in early 2025, is also waiting for approval.
