HONG KONG -(Dow Jones)- British bank Barclays PLC (BCS) is seeking a mainland partner to set up an investment banking venture that will take advantage of the fast growth of China's capital market, South China Morning Post reported Tuesday citing unnamed people familiar with the matter.

The report said Barclays was considering more than a dozen Chinese securities firms with a view to a possible partnership, including Chongqing-based Southwest Securities Co. Ltd. (600369.SH).

Beijing is opening up the financial services industry to foreign investors, allowing them to take up to a 49% stake in securities ventures on the mainland, the newspaper said.

Newspaper website: http://www.scmp.com

-By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com