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Foreign banks to be given “more room” in China: CBRC chairman

China Wind Lock Gu Lou

China Banking Regulatory Commission (CBRC) chairman Guo Shuqing says “more room” will be given to overseas banks in the country, according to media reports. Guo said at the Communist Party’s twice-a-decade congress that while foreign banks have been growing their presence in the country, their market shares have been trending downwards, which is detrimental to competition and the structure of…

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