Recently, Ueda Yagi Money Broking (China) Co., Ltd. (hereinafter referred to as Ueda Yagi Money Broking) was approved by the China Banking and Insurance Regulatory Commission to start business in Beijing. As a wholly-owned subsidiary of Ueda Yagi Tanshi Co., Ltd., Ueda Yagi Money Broking is the sixth money broking company and the first foreign-owned money broking company in China.

Ueda Yagi Tanshi Co., Ltd., previously known as Ueda Tanshi Co., Ltd., was founded in June 1918. It was headquartered in Tokyo and Osaka of Japan, with a registered capital of JPY 5 billion. Ueda Yagi Tanshi Co., Ltd initially specialized in the interbank money market, and then extended the line of business into foreign exchange and bond markets.

A money broking company refers to a non-banking financial institution that is founded domestically in China with the approval of the China Banking and Insurance Regulatory Commission, and engaged in promoting broking services, such as financing and foreign exchange transactions between financial institutions electronically or by other means. Its business scope covers transactions in various elements such as:

· domestic and overseas foreign exchange markets

· transactions in domestic and overseas money, bond, and derivative instrument markets

The founding of Ueda Yagi Money Broking (China) Co., Ltd. in Beijing represents a remarkable achievement in the opening-up of the financial industry in China, as well as significant progress made by the Beijing Municipality amid its ambitious efforts to promote construction of the "Two Zones". It is also an important reflection of Beijing's endeavors to build an international first-class business environment. After its establishment, Ueda Yagi Money Broking will fully leverage century-long business expertise and technologies and continue improving its money broking product lines and business module to fully meet domestic and overseas consumer demands.

(Note: Content sources is from Beijing News)