Mizuho Secures Full Ownership of Beijing Securities Firm

Mizuho Financial Group has received approval from China's securities regulator to establish a wholly owned securities firm in Beijing. This significant development comes as China continues to open its financial sector to foreign entities.

The approved firm, fully owned by Mizuho's securities arm, boasts a registered capital of 2.3 billion yuan or $323.08 million, as per a statement from the China Securities Regulatory Commission (CSRC). This event marks Mizuho joining major global financial institutions, such as Goldman Sachs and BNP Paribas, in operating wholly owned securities branches in China.

In 2020, China eliminated restrictions on foreign ownership in securities firms, paving the way for international financial institutions to further integrate into the world's second-largest economy. The policy changes allow deeper involvement in China's capital market, which includes a $19 trillion stock market.

(With inputs from agencies.)