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CEB receives go-ahead to establish WM subsidiary

China Everbright Bank (CEB) has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) to set up a wealth management unit in line with China’s revised wealth management rules just months after being fined for wealth management product-related breaches. The bank is one of the first joint-stock lenders to receive the green light from the Chinese regulator, following…

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