Japan's SMFG brokerage arm to set up wholly-owned firm in China

Japan's SMFG brokerage arm to set up wholly-owned firm in China

Shanghai, China. Photo: Kin Li

The brokerage arm of Japan’s Sumitomo Mitsui Financial Group Inc is planning to start a wholly-owned firm in China, its chief executive said, as the country sets out to open up its vast financial sector in 2020.

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