Standard Chartered clinches approval to set up securities firm in China

It will receive an initial capital injection of over $155m.

Standard Chartered Hong Kong has gotten in-principle approval from the China Securities Regulatory Commission to set up Standard Chartered Securities (China).

Standard Chartered Hong Kong has gotten in-principle approval from the China Securities Regulatory Commission to set up Standard Chartered Securities (China).It will be headquartered in Beijing and will provide products and services related to China’s onshore capital markets for both onshore and offshore clients.

The bank has appointed John Tan, Standard Chartered’s head of financial markets in Asia as chairman-designate of the firm, and Grace Geng as CEO-designate.