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LONDON, June 30 (Reuters) - HSBC has received approval from China's securities regulator for its investment banking joint venture with the state-backed Qianhai Financial Holdings Co, the British bank said on Friday.
The joint venture securities company, HSBC Qianhai Securities Limited, is majority-owned by HSBC in contrast with most other sino-foreign investment banking partnerships.
HSBC announced the venture in November 2015 and has since been waiting for the approval to begin operations. (Reporting By Lawrence White; editing by Carolyn Cohn)