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Mizuho and Daiwa Clear China Securities Approval
Mizuho and Daiwa Securities Group secure final review for China securities units as US rivals lag.
In brief
Mizuho and Daiwa Securities Group secure final review for China securities units as US rivals lag. Mizuho Financial Group and Daiwa Securities Group cleared final regulatory review for wholly owned securities businesses in mainland China, while US and European firms like Citigroup and Citadel Securities await…
Mizuho and Daiwa Clear China Securities Approval
Mizuho Financial Group and Daiwa Securities Group cleared final review for wholly owned securities businesses in mainland China.
Mizuho's Timeline
Mizuho obtained securities license in September 2025 and applied for subsidiary in November 2023.
Daiwa's $100m Buyout
Daiwa bought out partner's stake for $100 million (about ¥16 billion) to make China unit wholly owned.
US and European Firms Lag
Citigroup and Citadel Securities remain waiting for approval after years of applying.
China's Approval Process
China allows foreign firms to enter with wholly owned operations but approval criteria are opaque.
What Happens Next
Mizuho and Daiwa will expand services for wealthy individuals and corporate clients in China.
What matters most
Mizuho Financial Group and Daiwa Securities Group cleared final regulatory review for wholly owned securities businesses in mainland China, while US and European firms like Citigroup and Citadel Securities await approval.
