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foreign brokerages are accelerating their efforts to seize the chinese market, and japanese brokerage mizuho securities recently updated its progress in entering china.

on september 6, the china securities regulatory commission disclosed its feedback on the application documents for the establishment of mizuho securities (china) co., ltd., requiring the company to disclose additional information on a number of matters, including the business scope of the proposed securities company, initial and mid-term business plans, and the competence of the proposed chairman and general manager.

more than two months ago, on june 24, mizuho securities co., ltd.'s application to establish a securities company in china was accepted by the china securities regulatory commission. its business in china is mainly focused on underwriting chinese corporate bonds.

if approved, mizuho securities will set up a wholly-owned subsidiary in china, becoming the third japanese securities firm in china after nomura orient and daiwa securities. unlike the latter two, which are non-bank securities firms, mizuho securities is one of the largest financial institutions under mizuho financial group, japan's largest financial holding group, and is a bank-affiliated securities firm.

in recent years, foreign securities firms have accelerated their layout in the chinese market, including mizuho securities. since the beginning of this year, the "progress bars" of the establishment or business development of many foreign securities firms in china have been updated. for example, on july 16, bnp paribas securities (china) co., ltd. was established. many foreign securities firms have also been approved to add new business qualifications this year.

asked about license application and executive competence

in november last year, mizuho securities submitted its application materials for the establishment of a securities company to the csrc and was accepted. half a year later, in late june this year, the application was accepted.