After withdrawing from China five years ago, Japanese financial giant Daiwa Securities Group Inc. has applied to the country’s securities watchdog to set up a foreign-controlled securities joint venture.
Daiwa Securities said that it has filed an application to the China Securities Regulatory Commission (CSRC) for a joint venture with Beijing State-owned Capital Operation and Management Center (BSCOMC) and Beijing Xicheng Capital Holdings Co. Ltd., according to a Wednesday statement on its website.