Foreign Banks Line up to Expand in China – Sundeep Tucker

From Financial Times:

December 11 2006 has been pencilled into the diaries of foreign commercial banks operating in China ever since the country agreed to join the World Trade Organisation five years ago.

With less than two weeks to go until China lifts many restrictions on banks’ ability to open new branches and offer products to locals, a core group of about 10 overseas banks are finalising their expansion plans.

Their cause was helped earlier this month when China issued landmark rules to flesh out the liberalization measures. And this week mainland authorities are expected to issue detailed implementation guidelines.[Full Text]

-Also read CDT previous post More Than 10 Foreign Banks to Open in China

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