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▲Rendering of Canal Business District

Ueda Yagi Currency Brokerage (China) Co., the first wholly foreign-owned currency brokerage company in China and the first foreign-licensed financial institution in the Beijing City Sub-center, has officially opened in the Canal Business District.

Huo Xuewen, Director of Beijing Local Financial Supervision Administration, and Zhao Lei, Deputy Secretary of Tongzhou District Committee and Mayor of Tongzhou District, attended the event.

Ltd. was established in June 1918 and is headquartered in Tokyo and Osaka, Japan. It is mainly engaged in currency brokerage business, providing intermediary services for financial institutions in the market of funds borrowing and lending, bills, bonds, foreign exchange, derivatives and other transactions.

▲On September 9, 2020, the approval ceremony of Ueda Yagi Currency Brokerage (China) Co.

Ltd. is a wholly-owned subsidiary of Ueda Yagi Short Capital Co., Ltd. established in Beijing to engage in currency brokerage business, which was approved by the China Banking Regulatory Commission in September 2020 to prepare for establishment with a registered capital of RMB 60 million, and its business includes domestic foreign exchange market trading, domestic foreign exchange market trading, domestic and foreign bond market trading, domestic and foreign derivatives trading, etc.

At the opening ceremony, the president of Ueda Yagi Short Capital Co., Ltd. Jingping Ueda introduced in a video link that the company started to prepare the application procedures for opening in March last year, and experienced the impact of the epidemic during the period, and got the approval for opening in spite of various difficulties. He said, "The head office will do its best, together with its subsidiaries, to contribute to the stability and development of China's financial market and to the promotion of the internationalization of the RMB."

l  The last currency brokerage license in China was issued ten years ago. After a decade, the sixth currency brokerage license in China went to Ueda Yagi Currency.

●  The establishment of the company in Beijing is a fruitful result of the opening up of China's financial industry to the outside world, a significant progress made by Beijing in promoting the construction of the "Two Districts", and an important reflection of the capital's efforts to build an international first-class business environment in recent years.

 "We are confident in expanding our China money brokerage business in the sub-city!" Mr. Huang Hong, President of Ueda Yagi Money Brokerage (China) Co., Ltd. introduced that the company will make good use of the policy support of the "two zones" in the Beijing City Sub-center and the unique advantages of Beijing's financial management center, and continuously improve the business product line and business system through financial technology innovation.

Zhao Lei said in his speech that the opening of Ueda Yagi has strengthened our confidence in expanding the opening of the financial industry to the outside world, and that the Vice City Center is capable of serving and supporting the development of various domestic and foreign financial institutions.

He pointed out that this year is the 100th anniversary of the founding of the Communist Party of China, the opening year of the 14th Five-Year Plan, and the key year to promote the high-quality development of the sub-city center. Tongzhou District is taking the strategic advantage of high-level coordination, the institutional advantage of municipal empowerment, and the comprehensive advantage of high-quality and efficient business environment to vigorously develop the four leading industries of administrative office, business services, cultural tourism and technology innovation, and to solidly promote the construction of the "two districts", comprehensively improve the infrastructure, public services, ecological environment, government services and other investment and business environment. The district government will actively create a good development space for all kinds of financial enterprises in terms of policies, markets, talents and services.

In the future, the district government will provide a more open investment environment, a better business environment and a better environment for talent development for all kinds of enterprises, including Ueda Yagi, and welcome all kinds of financial enterprises and talents to the Beijing City Sub-center to seek common development and create a common future.

Huo Xuewen said in his speech that Beijing, as a national financial management center, has international leading advantages and remarkable development opportunities in market foundation, business environment, reform and innovation.

He pointed out that the sub-city center is an important wing of Beijing's two wings, and as an important part of the international business service area of the Beijing Pilot Free Trade Zone, the sub-city center puts forward the goals of building a global wealth management center, exploring the first model of green development, promoting innovative practices in the financial field, and creating a canal financial city.

The opening of Ueda Yagi will add a colorful touch to the construction of the Beijing City Sub-center and the canal financial city. At present, the construction of "two districts" is accelerating, we will actively promote the implementation of various policies and strive for greater breakthroughs to create a more favorable policy environment, humanistic environment and service environment for the development of domestic and foreign financial institutions in Beijing.

In the State Council's approval of Beijing's "Two Districts" construction plan, the Vice City Center has been given the important positioning of a global wealth management center, a global green finance and a sustainable financial center.

Currently, the development of financial industry in the sub-city is breaking through the limitations of the domestic market and moving towards internationalization, and a series of policies have been released to promote the development of the financial industry.

In the past two years,Beijing City Sub-center has gathered a number of top financial institutions, think tanks and financial professional service organizations, such as Huaxia Finance, Nongyein Jinke, Beijing Green Exchange, Beijing Institute of Green Finance and Sustainable Development, Beijing International Wealth Management Institute, and PricewaterhouseCoopers.

Data show that in the first half of this year, the financial industry in the sub-city doubled its tax revenue, accounting for 11.2% of the tax revenue of the three industries, an increase of 3.8 percentage points year-on-year.

The region has registered more than 300 financial enterprises of all kinds, more than half of the banking institutions newly established or upgraded to corporate banks or one or two branches, the Canal Business District alone has gathered more than 230 banks, insurance, securities, funds, factoring and other financial enterprises, the introduction of the construction of cotton, mahogany and other four major local exchanges, the gathering of a number of industry-leading financial institutions, think tanks and financial professional services institutions, wealth management, Wealth management, green finance, financial technology and three major industrial ecology accelerated construction. The financial ecosystem of the Beijing City Sub-center is being quietly formed along the Grand Canal.