The Royal Bank of Scotland Group plc (RBS) and Guolian Securities Co Monday announced the opening of their securities joint venture, Huaying Securities Co, in Wuxi city, near China's financial center of Shanghai.

Huaying Securities is licensed to underwrite and sponsor stocks and bonds issued in the Chinese mainland, the world's largest IPO market by 2010.

RBS is a UK-domiciled bank that provides a wide range of services in China. Guolian Securities provides a wide range of security brokerage and financial advisory services through 40 branches in the country.