The China Banking and Insurance Regulatory Commission (CBIRC) has given approval to Industrial and Commercial Bank (ICBC) and China Construction Bank (CCB) to commence operations at their respective wealth management subsidiaries, according to a statement issued by the Chinese regulator. ICBC and CCB rank amongst China’s five major state-owned banks which were granted permission to set up wealth management subsidiaries…
ICBC and CCB given green light to open doors at WM subsidiaries
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