HANG Seng Securities Ltd, a subsidiary of Hang Seng Bank, signed a memorandum of understanding yesterday with Guangzhou Securities Co to set up a joint venture securities investment advisory company.

The joint venture, Guangzhou GuangZheng Hang Seng Securities Investment Advisory Co, marks the first application to set up a joint venture securities investment advisory company in Guangdong Province under the Supplement VI to the Chinese mainland and Hong Kong Closer Economic Partnership Arrangement.