UBS Securities, China Branch
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UBS Securities Co., Ltd. is the investment bank and brokerage firm of the Swiss bank
UBS UBS Group AG (stylized simply as UBS) is a multinational investment bank and financial services firm founded and based in Switzerland, with headquarters in both Zurich and Basel. It holds a strong foothold in all major financial centres as the ...
with offices in many countries, among them China. Its Chinese arm is a joint-venture according to the restrictions of foreign investments in China, especially in the financial sector. Since 2018, it is a subsidiary of the
Swiss Swiss most commonly refers to: * the adjectival form of Switzerland * Swiss people Swiss may also refer to: Places * Swiss, Missouri * Swiss, North Carolina * Swiss, West Virginia * Swiss, Wisconsin Other uses * Swiss Café, an old café located ...
bank
UBS UBS Group AG (stylized simply as UBS) is a multinational investment bank and financial services firm founded and based in Switzerland, with headquarters in both Zurich and Basel. It holds a strong foothold in all major financial centres as the ...
.


History

In 2006,
China Jianyin Investment China Jianyin Investment Co., Ltd. (JIC) is a Chinese investment company owned by the government of the People's Republic of China. Founded in 2004, it is a wholly-owned subsidiary of Central Huijin Investment and is an integrated investment grou ...
(an indirect
subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...
of the
State Council State Council may refer to: Government * State Council of the People's Republic of China, the national cabinet and chief administrative authority of China, headed by the Premier * State Council of the Republic of Korea, the national cabinet of S ...
) and Beijing Guoxiang Asset Management (an asset management subsidiary of the
Beijing Municipal People's Government The Beijing Municipal People's Government is the local administrative agency of Beijing. It is officially elected by the Beijing Municipal People's Congress and is formally responsible to the BMPC and its Standing Committee. The municipal governm ...
) established the firm after the financial difficulties of Beijing Securities.
UBS UBS Group AG (stylized simply as UBS) is a multinational investment bank and financial services firm founded and based in Switzerland, with headquarters in both Zurich and Basel. It holds a strong foothold in all major financial centres as the ...
and the
International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...
bought a combined 24.99% share of the enterprise in 2007, under the laws governing Sino-foreign
joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...
s.
COFCO Group COFCO (; full name: China Oil and Foodstuffs Corporation) is a Chinese state-owned food processing holding company. COFCO Group is China's largest food processor, manufacturer and trader. It is also one of Asia's leading agribusiness groups along ...
and
State Development & Investment Corporation State Development and Investment Corporation (SDIC) (国家开发投资公司) is the largest state-owned investment holding company in China. It was established on 5 May 1995. SDIC's industrial investment mainly goes to power generation, coal ...
(SDIC) also acquired part ownership from China Jianyin Investment. The firm began operations in May of 2007. It underwrote
BYD Company BYD Company Limited or BYD ( zh, s=比亚迪, p=Bǐyàdí) is a Chinese Multinational corporation, multinational manufacturing Conglomerate (company), conglomerate headquartered in Shenzhen, Guangdong, China. It is a vertically integrated com ...
, Pang Da Automobile Trade and other publicly traded companies in their
IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
. In 2011, China Guodian acquired the SDIC's 14% stake and China Jianyin Investment sold its remaining 14.01% stake to its parent company,
Central Huijin Investment Central Huijin Investment Ltd. is a Chinese sovereign fund company under the China Investment Corporation owned by the State Council of China. Established in 2003 by the People's Bank of China, five years later it became a wholly-owned subsidia ...
, which was in turn acquired in 2013 by the
Guangdong Provincial People's Government The Guangdong Provincial People's Government is the provincial administrative agency of Guangdong. It is officially elected by the Guangdong Provincial People's Congress and is formally responsible to the Provincial People's Congress and its Stand ...
-owned . One year later, UBS increased its stake from 20% to 24.99% by acquiring
International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...
's share. UBS Securities became a subsidiary of UBS in 2015. The latter company increased its share to 51% by acquiring additional stake from China Guodian and
COFCO Group COFCO (; full name: China Oil and Foodstuffs Corporation) is a Chinese state-owned food processing holding company. COFCO Group is China's largest food processor, manufacturer and trader. It is also one of Asia's leading agribusiness groups along ...
. Beijing Guoxiang Asset Management's stake in UBS Securities is now (as of 2019) owned by sister company Beijing State-owned Assets Management. Yu Xugang and his coauthors called UBS Securities "the first foreign-invested fully-licensed securities firm in China".


See also

*
CSC Financial CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd ...
, a sister company *
Securities industry in China Securities industry in China is an article on the securities industry in mainland China. History *1995, China's first joint venture investment bank – China International Capital Corp (CICC) was established, shareholders included Morgan Stanley ...


References


Footnotes


External links

* {{authority control UBS Financial services companies of China Investment banks in China Investment management companies of China Government-owned companies of China Companies owned by provincial governments of China Financial services companies established in 2006 Banks established in 2006 Chinese companies established in 2006 Companies based in Beijing