Foreign banks closer to doing business in China

03/21/2007 | Wall Street Journal, The

The China Banking Regulatory Commission has approved applications by four foreign banks to establish locally incorporated subsidiaries. HSBC Holdings' Hongkong & Shanghai Banking Corp., Standard Chartered Bank, Citigroup and Bank of East Asia will each operate stand-alone entities in China. The banks' exact capabilities, however, are unclear.

View Full Article in:

Wall Street Journal, The

Published in Brief: