HONG KONG (Reuters) – Japanese brokerage Nomura Holdings (8604.T) has received final regulatory approval to launch its majority-owned joint venture in China that will operate asset management, brokerage, investment consulting, and proprietary trading businesses. FILE PHOTO: Investors stand in front of a screen showing the logo of Nomura Holdings in Tokyo, Japan, December 1, 2015. REUTERS/Toru Hanai/File Photo Nomura received the regulatory nod to set up the venture Nomura Orient International Securities in March this year, as part of Beijing’s move to open its financial sector up to foreign firms. With the latest approval, the Shanghai-based Nomura joint venture will be able to launch its operations. “Through the new business, Nomura aims to leverage its global expertise to provide clients with diverse investment products and services for the Chinese market,” the Japanese brokerage said in a statement on Friday. Nomura Orient International Securities is 51% owned by Nomura, 24.9% by Orient International Holding, and 24.1% by Shanghai Huangpu Investment Holding Group. China has unveiled a slew of measures in the last couple of years to open up its trillions of dollars worth of financial sector to give foreign firms greater access in areas including banks, fund management, brokerages and insurance… Read full this story
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