Almost a week after getting the regulatory nod to acquire full ownership of its China life insurance joint venture (JV), HSBC Holdings HSBC is now planning to increase its stake in the securities JV – HSBC Qianhai Securities Limited– in the country.Per a filing with Shenzhen United Property and Equity Exchange, HSBC’s securities JV partner Qianhai Financial Holdings Co., Ltd. (currently holding 49% stake) is selling its 39% interest in the venture for 1.26 billion yuan ($198 million). HSBC is expected to bid for the stake, which will take its hold in the JV, which was formed in 2017, to 90%.The filing further stated that the auction for the stake will end on Jan 21. It is worth mentioning that the JV had incurred a loss of 135 million yuan ($21.2 million) last year.HSBC Qianhai Securities is the first majority-owned JV securities company by a foreign bank in China.ConclusionGiven that China’s $53-TRILLION financial market is now open to foreign firms, following the removal of ownership restrictions in 2018, several global banks have been rushing to capitalize on the lucrative prospect. The country has become the second-largest equity market globally, and is one of the broadest and deepest growth markets outside the United States.This led several banks like Morgan Stanley MS, JPMorgan JPM and Goldman Sachs GS to expand their operations in China. At present, eight global banks, including JPMorgan, Morgan Stanley and Goldman, either have approval for 100% ownership of their local securities venture or obtained a majority stake in their JVs.Morgan Stanley is set to attain almost full ownership of its Chinese securities JV — Morgan Stanley Securities China Co Ltd, per a stock exchange filing last month. The company will increase its stake in the JV to 94% after its partner — China Fortune Securities Co. Ltd — put 4.06% interest for sale. The company will pay 698 million yuan ($110 million) for the stake.Notably, JPMorgan and Goldman had received approvals to own 100% of their onshore securities JVs August 2021 and October 2021, respectively. Along with HSBC, the above-mentioned three firms — GS, MS and JPM — have plans to expand further in the country to diversify revenues, and expand their global footprint and market share.HSBC has been focusing specially on building operations in Asia, including Hong Kong and China. The company has been undertaking efforts to position itself as a top bank for high net worth and ultra-high net worth clients in Asia. Thus, it agreed to acquire L&T Investment Management Limited for $425 million and 100% of the issued share capital of AXA Insurance in Singapore for $575 million. In 2020, the company initiated a digital-first, hybrid financial management platform — HSBC Pinnacle — in mainland China to bank on the increasing wealth in the region.Shares of HSBC have gained 9.6% over the past six months, compared with the industry’s rise of 1.2%. Image Source: Zacks Investment ResearchCurrently, HSBC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First To New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Morgan Stanley (MS): Free Stock Analysis Report HSBC Holdings plc (HSBC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research