Daiwa, Mizuho win China securities permits as some U.S. firms wait

What happened: Daiwa Securities Group and Mizuho Financial Group received approval to launch wholly owned mainland China securities businesses, a person familiar with the matter said. Some U.S. rivals remain on the approval waitlist. Why it matters: The approvals followed a March meeting between Vice Premier He Lifeng and a senior Japanese trade delegation on expanding bilateral trade and cross-border corporate investment. Mizuho's securities unit confirmed the information; Daiwa declined to comment.

Daiwa Securities Group and Mizuho Financial Group received approval to launch wholly owned mainland China securities businesses, a person familiar with the matter said. Some U.S. rivals remain on the approval waitlist.

The approvals followed a March meeting between Vice Premier He Lifeng and a senior Japanese trade delegation on expanding bilateral trade and cross-border corporate investment. Mizuho's securities unit confirmed the information; Daiwa declined to comment.