No one is confused about the scale of the task ahead. Once foreign banks have the right licences, they can trade securities and commodities, and manage wealth and assets, onshore for local and international clients, all in their own names. In doing so, Asia’s largest economy is finally opening the doors to its $21 trillion capital markets and forcing national champions such as Citic Securities and CICC to compete openly with the likes of JPMorgan and Goldman Sachs.įor now, the frustrations of the past are forgotten. In January 2020, as part of a trade deal with the US, financial regulators said foreign banks could apply to own their onshore securities businesses outright from April 1, eight months earlier than expected. Securities are offered through Nuveen Securities, LLC.Investment banking is getting real in China. Nuveen provides a range of products including investment advisory services, strategies, and expertise through its independent investment affiliates. If you are a US citizen or resident, please visit our website for US Financial Professionals or US Institutional Investors. Any funds described herein are not for sale in the US or to US persons and are available under the conditions of the relevant offering document(s). The information provided should not be considered a solicitation or an offer by Nuveen or its affiliates to provide any financial products or services in any jurisdiction where it is not otherwise authorized to do so. Recipients should inform themselves about and observe any applicable legal requirements. Products, services, or strategies shown may not be available in certain jurisdictions and/or to certain investors. Therefore, the value of the investment and the income from it will vary and the initial investment amount cannot be guaranteed. All financial investments involve an element of risk. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. The information contained on this website is provided for educational purposes only and is not intended to be relied upon as a forecast, research or investment advice, is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities.
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