Nomura has moved to enhance its presence in mainland China by setting up a joint venture in the China Shanghai Pilot Free Trade Zone.
The Japanese investment bank has signed a joint venture agreement with related parties of state-owned developer and financial group Shanghai Lujiazui Development Group, as well as Shanghai Jiu You Equity Investment Fund Management.
Nomura will hold 60% of the JV - called Shanghai Nomura Lujiazui Investment Management - and will register in the FTZ, according to an announcement on Monday.
The JV will not target retail investors directly but will provide information...
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