Credit Suisse Bridges China Potential and Overseas Capital, China Head Says
Zhou Ailin
DATE:  Oct 18 2022
/ SOURCE:  Yicai
Credit Suisse Bridges China Potential and Overseas Capital, China Head Says Credit Suisse Bridges China Potential and Overseas Capital, China Head Says

(Yicai Global) Oct. 18 -- Credit Suisse Group will build a bridge between opportunities in China and international capital through diversified products and services as the Asian country keeps opening up its financial sector, according to the chief of the Swiss investment bank's China arm.

China is an important part of Credit Suisse’s strategies in the Asia-Pacific region and even the globe, Janice Hu, chief executive of Credit Suisse in China, said to Yicai Global. In the long term, global investors remain fully confident about the position and the long-term growth prospects of China’s financial market, she added.

"We believe that China will further actively embrace the global financial market and provide foreign financial institutions in China with more opportunities," the CEO said. Credit Suisse will continue strengthening its China platform while cultivating local talents, she added.

The Zurich-headquartered company is planning to acquire a 49 percent stake in its joint venture with Founder Securities called Credit Suisse Securities China to become the third foreign financial institution to fully own its securities brokerage in the Chinese mainland after J.P. Morgan and Goldman Sachs.

Last year, Credit Suisse Securities China was green-lighted by the local regulator in Beijing to widen its business scope to include nationwide securities brokerage, consulting, and investing, Yicai Global learned.

China is further relaxing market access. The China Securities Regulatory Commission is studying two specific short-term trading systems for foreign investors, namely allowing qualified overseas public funds to calculate the amount of securities held by product with reference to domestic public funds, and exempting the Hong Kong Securities Clearing Company from certain specific short-term trading system, Securities Times reported on Oct. 16.

Editors: Dou Shicong, Emmi Laine, Xiao Yi 

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Keywords:   Credit Suisse