The main business of Swiss banks in China includes: absorbing public deposits, issuing loans, accepting and discounting bills, buying and selling government bonds and financial bonds.
Buying and selling other foreign currency securities other than stocks, providing letter of credit services and guarantees, handling domestic and overseas settlement, and engaging in bank card business.
Extended data:
In April 2005, China Securities Regulatory Commission approved UBS Group AG Co., Ltd. to form a joint venture fund management company with SDIC Hongtai Trust and Investment Company (renamed SDIC UBS Fund Management Company with a registered capital of 6,543.8 billion yuan) by purchasing 49% shares of Shenzhen Zhongrong Fund Management Co., Ltd.
This is also the first fund company with 49% foreign ownership in the mainland fund market after the policy relaxation. With the further opening of China market, within the scope permitted by laws and regulations, SDIC UBS will carry out more investment management business, including pension management.
Qualified Foreign Institutional Investors (QFII) and qualified domestic institutional investor (QDII) will bring more opportunities for the new company to expand its business.
Baidu encyclopedia-Swiss bank