Swiss private banking giant Credit Suisse has expanded its presence in China with the launch of an onshore brokerage business that will operate in the Qianhai free trade zone in Shenzhen.
The onshore brokerage service will be provided through Credit Suisse Founder Securities (CSFS), a Sino-Foreign JV securities company set up by Founder Securities and Credit Suisse in 2008.
CSFS’ moves follows the introduction of Shenzhen-Hong Kong Stock Connect, the new cross-border share trading link that will allow global investors access to the China’s tech-heavy exchange.
In November 2015, CSFS secured approval from China Securities Regulatory Commission to provide investment banking services in Shenzhen Qianhai. Credit Suisse owns 33.3% of the JV with the remainder held by Founder Securities.