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UBS launches China unit; furthers ambition to capture Mainland onshore market

UBS joins the list of approximately 40 foreign banks to operate as a locally-incorporated unit in China, allowing the Swiss giant to offer yuan products to its clients. UBS becomes the first Swiss bank to have a locally-incorporated fully foreign-owned bank in China, as it aims to make use of its now-approved status and ability to offer RMB products to…

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