Is it coming?The largest bank of Italy was accepted in China, and 9 foreign -controlled securities firms competed on the same stage

21st Century Business Herald Reporter Lei Chen intern Li Yuchen Beijing reported

A few days ago, according to the application and review of the administrative license application of securities and fund operating agencies published by the Securities and Fund Operation Institutions, the materials applied for the establishment of Qingdao Yicai Securities Co., Ltd. (referred to as "Talent Securities") were accepted by the Securities Regulatory Commission on September 15.

It is reported that Yicai Securities was jointly established by the Italian Union St. Paul Bank and Qingdao Guoxin, Qingdao Bay and Qingdao Metro. On September 28, 2020, the establishment of the application information of Yicai Securities was first accepted by the Securities Regulatory Commission, and it was corrected on October 10 of the same year.

The acceptance of this application after two years means that my country's joint venture brokerage team is expected to add another member.

Yifang shareholder Qingdao re -associated

Public information shows that the items that are planned to be established this time are established by Italy Union St. Paul Bank and Qingdao State -owned Assets joint ventures. Among them, the shareholders of Italy held 51%, while Chinese -funded partners include Qingdao Guoxin, Qingdao Bay and Qingdao Metro.

It is understood that Qingdao Guoxin was established in February 2008 with a registered capital of 3 billion yuan. It is a wholly state -owned company that was funded by the state alone and the Qingdao State -owned Assets Supervision Commission fulfilled the responsibilities of the investor. It is also the first state -owned financial control company in Qingdao.

On the other hand, the foreign shareholder of Yicai Securities, the United Paul Bank, is not easy. It has a history of more than 400 years and is the largest banking group in Italy.

According to the official website, the bank was consolidated by the Italian Bank of Italy and the St. Paul Bank of Italy on August 26, 2006 to provide financial services for customers in nearly 40 countries in the world. Its international business network is huge and consists of public business centers, representative offices, branches and banks active in 25 countries around the world.

As a full -brand bank, in addition to retail and public traditional businesses, I also jointly launched wealth management, private banking, asset management, investment banking and insurance business.

In addition, Union St. Paul Bank was one of the earliest European commercial banks that entered the Chinese market. As early as the early 1980s, the company had carried out business in China. In addition to seeking securities trading licenses, the United Paul Bank has laid out in the fields of Chinese banks, public funds, and fund sales.

In 2007, Union St. Paul Bank entered the Bank of Qingdao. The business information of the enterprise showed that the current Union St. Paul Bank holds 17.5%of the shares of Qingdao Bank, and also holds 49%of the equity of Penghua Fund through its Older Capital Asset Management Company.

In September 2016, United Paul Bank further expanded China's business map and established the first wholly -owned holding fund sales company -Qingdao Yicai Fund Sales Co., Ltd. (referred to as "Talent Fund").

From the perspective of the development of the Talent Fund in recent years, Union St. Paul Bank has always maintained its strategic optimistic about the Chinese wealth management market and continued to increase investment in funds. Since its establishment, Italian Fund has obtained the capital increase of San Paulo three times. At present, its registered capital has reached 591 million yuan.

Since the country's expansion of financial opening measures, at the end of 2019, the Talent Fund has become the first fund sales institution in the country's approved foreign banks, and it is also the first wholly -owned subsidiary of foreign commercial banks to obtain a fund sales license in China.

According to the official website of the Italian Fund, "Italian" originated from "Italian talent". The choice of such a name is to fully reflect the company's determination to "closely connect the Italian culture and take root in the Chinese market".

Foreign merchants plus Chinese financial markets

It is not accidental to attract the "settlement" of the United Paul Bank. As early as February 2014, the 11th National Ministry of the People's Bank of China approved the establishment of a comprehensive reform pilot zone of Qingdao Wealth Management Finance.

In the eight years since then, Qingdao has always centered on wealth management in the financial industry, and has played the heavy responsibility of demonstration and pilot.

During the period, Qingdao City successively introduced the "Policies and Measures to Further Promote the Development of the Comprehensive Reform of Qingdao Wealth Management and Financial Reform", "Detailed Rules for Supporting Several Policy and Measures of the Investment and Investment Centers", "Ten Ten Ten Ten Ten Ten Thoughts of Qingdao Financial Talent Team Construction" Measures such as the "Implementation Opinions" and other measures to actively introduce financial institutions and talents.

Analysts believe that, in this context, the United Paul Bank's choice of Qingdao as the starting station of Chinese business has also become a win -win choice.

"We decided to set up the headquarters in Qingdao because we firmly believe that the potential of the comprehensive reform pilot zone of Qingdao Wealth Management and Finance in 2014." At the Qingdao Global Investment Fresh Investment Network Conference held in May 2020, the Chairman of the Talent Fund Anthony Luo Piakas Tali has pointed out.

Jiang Baide, general manager of the Italian Fund, also said that the goal of Qingdao Yicai is to establish a third -party distribution network, which has become one of the strategic planning points of United Paul Bank's strategic plan. Essence In the future, it will apply for more licenses to carry out more business.

According to the list of securities operation agencies disclosed by the Qingdao Securities Regulatory Bureau, as of August 31, 2022, there are currently 37 brokerage branches and 121 business departments in the area under the jurisdiction of Qingdao. There are 2 securities companies in Qingdao, namely CITIC Securities (Shandong) and Federal Securities.

In the future, once the establishment of Yicai Securities will be approved, Qingdao will expand the capacity on the securities trading license, and it will also help the development of the financial industry in Qingdao.

In fact, as my country's financial industry further deepened reforms and strengthened its opening up, a large number of foreign capital took the Dongfeng to continue to increase China's financial business. In April 2018, the "Administrative Measures for Foreign Investment Securities Company" was officially announced and implemented, and the proportion of overseas shareholders held the equity of securities companies to 51%. On March 13, 2020, the CSRC announced that since April 1, 2020, the abolition of foreign -funded stock ratio restrictions on securities companies, and the exhibition industry of foreign financial institutions has been further helped.

According to the 21st Century Business Herald reporter's incomplete statistics, there are 9 foreign -funded securities firms that are currently in the official exhibition industry in Mainland China, namely Goldman Sachs Gaohua Securities, UBS Securities, Credit Suisse Securities (China), and Morgan Stanley Securities (China) , HSBC Qianhai Securities, Nomura Eastern International Securities, JP Morgan Chase Securities (China), Yamato Securities (China) and Star Show Securities (China).

Among them, Goldman Sachs Gaohua Securities and Morgan Chase Securities (China) two wholly -owned shares of foreign capital, the controlling shareholders are Goldman Sachs Group and JP Morgan Chase. With the transfer of the equity of Creditkin Securities, the third wholly -owned securities firms of the third foreign -funded are about to land.

At present, in addition to Talent Securities, the establishment of foreign -owned holding brokers such as Standard Chartered Securities, Rixing Securities, and Faba Securities is also under review.

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