France’s BNP Paribas applies to set up a securities firm in China

China’s securities regulator has received an application from France’s BNP Paribas to set up a securities company in China, the latest foreign player to try to expand into brokerage services in the country as it opens up its capital markets, reported Reuters.

“BNP Paribas continues to explore all of its options for growth in the China market,” the company said in an email statement to Reuters.

It is exploring ways to “enhance its local capabilities and delivery to clients in mainland China,” it added.