StanChart Eyes Mainland Brokerage Business

Oct 14, 2020Updated May 25, 20251 min read

Standard Chartered is reportedly applying for a brokerage license in China, joining its peers in the wave of foreign entry into the mainland market.

Mainland’s securities watchdog, the China Securities Regulatory Commission (CSRC), has accepted an application from Standard Chartered Hong Kong on October 10 to set up a securities firm in the market, according to a report from state-owned media Xinhua.

According to Standard Chartered, the bank was looking to further develop onshore business through acquiring new licenses.

Since Beijing made good on a trade deal signed with the U.S. to scrap foreign ownership caps on securities and mutual fund firms, foreign financial institutions from the U.S., Europe, Japan and Singapore have been rapidly seeking to establish a presence to capitalize on new opportunities. Within brokerage, Japan’s SBI was the most recent to express greater interest in the mainland’s sub-sector due in part to growing political instability in Hong Kong.

Tags

About the author

Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

Asia's retail intelligence, in your inbox