18 August 2019

China to pilot privately invested banks, paper says

China will launch a trial program before it allows private investors to establish banks on a wider scale, China Securities Journal reported Thursday, citing Shang Fulin {尚福林}, chairman of the China Banking Regulatory Commission. The trial is intended to iron out risk-related issues to protect depositors. Otherwise, no legal obstacles stand in the way of privately owned lenders, Shang was quoted as saying.

– Contact HKEJ at [email protected]



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