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HKMA may make it easier for foreign banks to enter Hong Kong

The Hong Kong Monetary Authority (HKMA) has announced that the market entry criterion for banking sector in Hong Kong is being revised under the Banking Ordinance. The notice seeks to remove the present licensing requirement under which an applicant for a bank licence must have total customer deposits of not less than HK$3 billion (US$385 million) and total assets of…

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