The China Securities Regulatory Commission (CSRC) approved Citigroup's plan to set up Citigroup Securities (China) Company Limited in Shanghai, with registered capital of 1.2 billion yuan (about 178.6 million U.S. dollars), allowing it to offer brokerage, advisory, underwriting and proprietary trading services. It becomes the seventh wholly foreign-owned securities firm approved in China, after J.P. Morgan, Goldman Sachs, Standard Chartered, BNP Paribas, UBS and Mizuho. Citi said it has helped Chinese clients raise more than 40 billion U.S. dollars in global capital markets since the start of this year. The move is part of China's broader financial opening, as the CSRC has removed foreign ownership caps on securities firms, fund managers and futures companies since 2020.
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Related tickers and likely impact
JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $894.6B |
| Close on 10/23/2026 | 331.58 |
| Change that session | -1.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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