Hong Kong, 7th December, 2017– The Bank of East Asia, Limited (“BEA”) today announced that East Asia Qianhai Securities Company Limited (“EA Qianhai Securities”), having obtained clearance from the China Securities Regulatory Commission (“CSRC”) for all relevant onsite examinations following nearly six months of preparatory works, has been granted a Securities and Futures Business License on 4th December, 2017.
The CSRC approved the establishment of EA Qianhai Securities by BEA and other corporate shareholders on 19th June, 2017. BEA is the largest shareholder of EA Qianhai Securities with a 49% interest.
EA Qianhai Securities is incorporated in Qianhai, Shenzhen with issued capital of CNY1.5 billion. EA Qianhai Securities is one of the few fully licensed securities companies established under Supplement X of the Mainland and Hong Kong Closer Economic Partnership Arrangement (“CEPA 10”).
Mr. Brian Li, Executive Director & Deputy Chief Executive of BEA said: “BEA will leverage its broad customer base, rich experience in global business operations, and effective risk management capabilities to support the growth of EA Qianhai Securities, and act as a positive force in deepening financial cooperation between Shenzhen and Hong Kong.”
The scope of services offered by EA Qianhai Securities includes securities brokerage, underwriting, asset management, and proprietary trading. EA Qianhai Securities will fully capitalise on the opportunities arising from the continuing transformation of the Mainland’s capital markets, and will leverage both online channels and physical outlets to build and develop its customer base.
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About BEA China
Headquartered in Shanghai, The Bank of East Asia (China) Limited ("BEA China") was one of the first foreign banks to receive approval from the China Banking Regulatory Commission to establish a locally-incorporated bank in Mainland China. Leveraging its deep insights into the China market as well as BEA (HK) Head Office's banking expertise in Hong Kong and overseas, BEA China offers a wide range of banking and financial services to customers. BEA China operates one of the largest networks of any foreign bank in Mainland China.
About The Bank of East Asia, Limited
Incorporated in Hong Kong in 1918, The Bank of East Asia, Limited ("BEA") is Hong Kong's largest independent local bank, with total consolidated assets of HK$788.5 billion (US$101.0 billion) as of 30th June, 2017. Listed on The Stock Exchange of Hong Kong Ltd, the Bank is one of the constituent stocks of the Hang Seng Index. BEA Group operates an extensive service network, with over 200 outlets covering Hong Kong, other parts of the Greater China region, South East Asia, Britain and America. BEA is dedicated to providing comprehensive corporate banking, personal banking, wealth management, and investment services to customers. For details of our services, please visit any BEA branch or our websitewww.hkbea.com.
About East Asia Qianhai Securities Company Limited
EA Qianhai Securities is incorporated in Qianhai, Shenzhen with issued capital of CNY1.5 billion. EA Qianhai Securities offers a range of services including securities brokerage, securities underwriting, securities asset management, and proprietary securities trading.
For press enquiries, please contact:
Marketing & Communications Department
The Bank of East Asia (China) Limited
Tel.: (86) 21 3866 3866
