Guotai Junan opens FTZ branch

Guotai Junan Securities opened a branch in the China (Shanghai) Pilot Free Trade Zone on Monday, the first of its kind in the area, to better tap into opportunities in financial reform.

Wan Jianhua, chairman of the Shanghai-based securities company, said the FTZ branch will be a key platform for financial innovation, and will play a positive role in assisting Shanghai in realizing its goal to build a global financial center by 2020.

The FTZ branch will carry out comprehensive financial services, including cross-border securities transactions, wealth management, investment banking and global research, according to the Guotai Junan.

The securities company also expected further opening and reforms in the financial industry in the FTZ, including full convertibility of capital account and freer cross-border flow of the yuan, which will generate more opportunities for industrial players.