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CBRC eases way for foreign bank expansion as mainland peers consolidate

chinese, china

The China Banking Regulatory Commission (CBRC) has eased the way for foreign banks to take strategic stakes, carry out business, and expand their branch presence in China. The move appears to run counter to an accelerating consolidation drive in the domestic banking industry since the fourth quarter last year. In a set of announcements published Friday, the CBRC said foreign…

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