Its Chinese arm is a joint-venture according to the restrictions of foreign investments in China, especially in the financial sector.
[2] UBS and the International Finance Corporation bought a combined 24.99% share of the enterprise in 2007, under the laws governing Sino-foreign joint ventures.
In 2011, China Guodian acquired the SDIC's 14% stake and China Jianyin Investment sold its remaining 14.01% stake to its parent company, Central Huijin Investment, which was in turn acquired in 2013 by the Guangdong Provincial People's Government [zh]-owned Guangdong Provincial Communication Group [zh].
One year later, UBS increased its stake from 20% to 24.99% by acquiring International Finance Corporation's share.
[4] The latter company increased its share to 51% by acquiring additional stake from China Guodian and COFCO Group.