Regulator approves foreign bank branches in northeast China – Xinhua

From Xinhuanet (link)

Sixteen foreign banks have received approval to offer financial services in northeast China, said the China Banking Regulatory Commission (CBRC) in a statement on Thursday.

Nine banks have been allowed to set up branches and seven others have been given the green light to have representative offices in northeast China.

The Hongkong-Shanghai Banking Corporation (HSBC) and two other banks have been given the go-ahead to do business in local currency with Chinese firms.