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Chinese regulator approves ICBC’s application to set up WM subsidiary

[#Beginning of Shooting Data Section] Nikon COOLPIX5700 Focal Length: 25.4mm White Balance: Auto Digital Zoom Ratio: 1.00 2005/02/06 11:22:14 Exposure Mode: Programmed Auto AF Mode: AF-S Saturation comp: 0 JPEG (8-bit) Fine Metering Mode: Multi-Pattern Tone Comp: Normal Sharpening: None Image Size: 2560 x 1920 1/35.6 sec – F/3.6 Flash Sync Mode: Not Attached Noise Reduction: OFF Color Exposure Comp.: 0 EV ConverterLens: None Sensitivity: Auto [#End of Shooting Data Section]

The China Banking and Insurance Regulatory Commission (CBIRC) has approved Industrial and Commercial Bank of China’s (ICBC) application to set up a wealth management subsidiary in keeping with China’s new banking rules. According to a circular issued by the Chinese regulator on Sunday, ICBC’s application was approved late last week, making it the fifth and final of China’s five major state-owned…

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