HSBC finally wins China JV approval as markets open up

The British bank’s long wait has put it behind other global competitors and given domestic Chinese banks time to consolidate their position at home and extend their reach overseas.
HSBC has finally won approval from the China Securities Regulatory Commission for its Chinese joint venture, enabling it close the gap on the select few other global banks with an onshore presence as financial sector interest in China picks up anew. 
 
The green light for HSBC Qianhai Securities came on Friday during a visit by China President Xi Jinping to Hong Kong on the 20th anniversary of the former British colony’s handover. 
 
As an adjunct to the celebrations Bond Connect, a trading link for global investors into mainland China’s bond markets, is also likely to be launched...
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