China Business & Economy

Swiss Bank UBS Aims for Full Ownership of Securities Firm in China

Beijing State-owned Assets Management has said it will auction off its 33 percent stake in UBS Securities.
Swiss Bank UBS Aims for Full Ownership of Securities Firm in China
The logos of the Swiss banks Credit Suisse and UBS are pictured in Zurich on June 12, 2023. Ennio Leanza/Keystone via AP
|Updated:
0:00

Swiss bank UBS may become the first foreign financial institution to fully own a securities company in China, following the withdrawal of its partner in their joint venture, UBS Securities.

Beijing State-owned Assets Management (BSAM) said it will auction off its 33 percent stake in UBS Securities.

Alex Wu
Alex Wu
Author
Alex Wu is a U.S.-based writer for The Epoch Times focusing on Chinese society, Chinese culture, human rights, and international relations.