Haitong sets up Singapore subsidiary

Haitong International Securities Group gains a securities and futures trading licence, as Chinese brokerages attempt to expand globally.

Haitong International Securities Group, the Hong Kong-based overseas business arm of Haitong Securities, one of China’s largest securities firms, has opened an office in Singapore, its first overseas subsidiary.

Although the move was flagged by the company late last year after it applied for an operating licence, the company has now received the licence and has announced more details on the scope of the business.

Haitong Singapore aims to provide unique access to Singapore, Hong Kong and China products for corporate and institutional investors based in Southeast Asia and the Middle East.

The company has stationed 10 people in the Singapore office - most...

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