Credit Suisse (CSGN. S) said in a statement on Friday that it had obtained regulatory approval to acquire a majority stake in the investment bank's joint venture.
Since China eased the limit of 49% shareholding ratio of foreign banks in 2018, Credit Suisse has become the latest international investment bank approved by CSRC to hold a majority stake.
Foreign bankers say most of the control will allow them to make better use of their global networks and gain more market share in China.
Credit Suisse will increase its equity in Credit Suisse Founder Securities from 33.3% to 51% through capital injection.
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