The digitalisation dialogue is well underway on the Chinese Mainland, with private banks dedicating chunky budgets to ambitious blueprints. However, industry experts are less convinced that Chinese private banks are where they need to be. Describing the market as fragmented and straddled, with a number of players operating two different systems, those in the know tell Asian Private Banker that […]

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In the face of rising tax evasion schemes and anti-money laundering (AML) probes, Chinese regulator, the People’s Bank of China (PBOC), is aiming to clarify the country’s AML guidelines which will be used by private banks to redefine their strategies, a China AML expert tells Asian Private Banker. “In China, foreign banks are waiting for clearer guidelines from the PBOC on how […]

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