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Nomura, a Japanese securities firm, is closing a China branch due to losses and economic challenges.
Japanese securities firm Nomura is closing one of its four branches in China by the end of 2022, scaling back its wealth management business after years of losses.
The branch in Zhejiang province will be shut down, reflecting challenges including President Xi Jinping's "common prosperity" drive, a slowing economy, and intense competition.
This move aligns with Nomura's strategy to focus more on brokerage and asset management.
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Nomura, una firma de valores japonesa, está cerrando una sucursal china debido a pérdidas y desafíos económicos.