On November 26, the financial association reported (Reporter Guo Zishu) that recently, foreign institutions including ubs and DBS have had new developments in their domestic brokerage subsidiaries.

On November 26, the share transfer project of 33% equity of ubs securities limited liability company (hereinafter referred to as ubs securities) was listed on the peking property exchange, with a transfer base price of 1.5365 billion yuan. Currently, swiss bank limited (UBS AG) holds 67% equity of ubs securities, while the state-owned assets operation limited company of beijing holds 33% shares of ubs securities.

In response, a related person from ubs replied to the reporter from the financial association that ubs increased its shareholding in ubs securities to 67% in 2022. The process of further increasing the shareholding of ubs securities to 100% is ongoing.

In addition, the latest information from the shanghai united property exchange shows that two equity transfer projects of DBS securities (china) limited have been completed on November 21, with a total transfer ratio of 40%, and the transaction price is the same as the transfer base price of 0.823 billion yuan. In response, a related person from DBS group told the financial association reporter on November 26 that DBS group has obtained approval from regulatory authorities to increase its shareholding in DBS securities from 51% to 91%, with a transaction price of 0.823 billion yuan.

The aforementioned person from DBS group stated that in recent years, DBS group has been deepening its investment in china with increasing intensity, breadth, and depth. Through this transaction, DBS securities will better utilize group resources to enhance its business strength and provide customers with better capital market services.

This year, foreign brokerage firms are competing to enter the market, aiming to capture the china market. Standard chartered securities (china) opened in April, and three months later, societe generale securities (china) was established. Thus, there are now four wholly foreign-owned brokers in china: jpmorgan securities (china), goldman sachs (china) securities, standard chartered securities (china), and societe generale securities (china). This year, a relevant person from citibank (china) told the financial association reporter that they plan to establish a securities company and a futures company in china.

Statistics collected by financial association reporters show that at least five foreign institutions are seeking brokerage licenses or increasing their shareholding ratios in brokerage licenses this year.

Foreign investment is shifting towards china.

In the second half of this year, the restructuring actions of hsbc holdings are undoubtedly the focus in the global financial market. In October, hsbc holdings (00005.HK) announced the integration of its global operations into four main businesses. 'Hong Kong' is listed as one of the four main businesses, with the remaining three being 'united kingdom', 'corporate and institutional finance', and 'international wealth management and elite finance'. hsbc pointed out in the announcement that international wealth management, especially in asia and the middle east, is one of the group’s largest strategic growth opportunities.

On June 11 of this year, hsbc bank (china) completed the acquisition of citibank (china)'s personal wealth management business in mainland china, inheriting citibank's personal wealth management clients and related assets in 11 major cities across the country. In October, hsbc bank (china) was approved for securities investment fund custody qualifications and can provide custody services for locally established securities investment funds.

hsbc bank (china) stated that after being approved for securities investment fund custody qualifications, the scope of its custody business can be further expanded, allowing it to provide custody services for local public funds, private funds, as well as asset management products issued and managed by securities and futures operation institutions, and can also support the relevant business of foreign asset management institutions in china.

On the policy front, on November 6, the people's bank of china held a discussion with foreign financial institutions to listen to their opinions and suggestions, and to study further optimization of the business environment and promote the high-level opening up of the financial industry. The secretary of the party committee and governor of the people's bank of china, pan gongsheng, stated at that time that it is necessary to steadily promote the institutional opening up of financial services and financial markets, expand the connectivity of domestic and foreign financial markets, facilitate trade and investment financing, create a top-notch market-oriented, rule-of-law, and international business environment, and promote the sustained rebound and improvement of the economy and high-quality development of finance.