Mizuho Financial Group (MFG) and Daiwa Securities have received formal approvals to launch wholly owned securities businesses in mainland China, Bloomberg News reported Tuesday, citing a person familiar with the matter.
Citigroup (C), Citadel Securities and other US companies are still waiting for such applications to be granted amid growing diplomatic tensions between the two countries in recent years, according to the report.
Mizuho and Daiwa didn't immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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