Standard Chartered China Unit Gets Securities Business License

What’s new: China’s top securities watchdog has granted a securities business license to Standard Chartered Securities (China) Ltd., the company revealed Monday.

The brokerage house, wholly owned by British banking giant Standard Chartered PLC, anticipates commencing operations early next year with an initial focus on the fixed-income segment, a spokesperson at the company told Caixin.

The background: In January, China greenlighted the establishment of the securities company, allowing it to conduct four businesses: underwriting, asset-backed securities, brokerage, and own-account trading.