China rethinks as foreigners sell stakes in local banks

01/8/2009 | Wall Street Journal, The

The Chinese government's strategy of utilising the expertise of foreigners to develop a world-class financial system is taking a hit as many institutions reduce their stakes in local lenders. Foreign banks poured more than $25 billion into Chinese financial institutions during the past three years, but the financial crisis has forced some to start cashing out.

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Wall Street Journal, The

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