What changed
Daiwa Securities Group and Mizuho Financial Group have cleared the final hurdle to launch wholly owned securities businesses in mainland China. The Japanese firms were notified last week, after March talks between Vice Premier He Lifeng and a senior Japanese trade delegation focused on expanding trade and cross-border corporate investment.
Mizuho confirmed it is continuing preparations. Daiwa declined to comment, while some U.S. securities firms remain waiting for approval.
Why it matters
This gives Japan’s two financial groups a clearer route into China’s securities market at a time when access remains uneven among foreign firms. For Mizuho and Daiwa, the approval changes the question from whether they can operate in mainland China to when they can begin.
It also gives the March Japan-China discussions a concrete result. Trade diplomacy has produced a regulatory green light for two named institutions, even though the broader approval process remains unresolved for some U.S. competitors.
The next important detail will be the firms’ operating start dates. Neither has been disclosed, so the immediate significance is permission to proceed, not yet a live business.
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