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foreverinchina
PopStar
Joined: Nov 21, 2005
Posts: 1183
Location: 徐家汇
Status: Offline
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 Posted:
Dec 12, 2006 - 03:58 PM |
 
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| Post subject: Only 8 foreign banks applied for local retail certificate |
FCCC newsletter:
China opens retail banking
Exactly five years after joining the World Trade Organization, China further opened its retail banking business to foreign institutions on December 11. Eight foreign banks have applied to locally incorporate and begin retail operations. They are:
Citigroup,
Hongkong & Shanghai Banking Corp,
Hang Seng Bank,
Standard Chartered,
Bank of East Asia,
ABN Amro,
Mizuho Financial Group and
DBS Group.
The China Banking Regulatory Commission is expected to decide on their applications in one to three months. According to Bert Hofman, an economist with the World Bank's China office, foreign banks will expand their presence in China but are unlikely to ever dominate the market. |
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To govern a big country is like cooking a small fish.
Stir as little as possible.
- Lao Zi, Daode Jing 256 BC |
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mat
Board Royalty
Joined: Apr 26, 2004
Posts: 6311
Location: Loooooooooooose!
Status: Offline
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| Posted:
Dec 13, 2006 - 03:06 PM |
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I was led to believe that as of Dec 11 they could already start offering retail products.
So when can we apply for credit cards, atm cards etc... with these banks?
The trouble i went through to get a credit card with ICBC was rediculous, and even then the most they could give me was 1500 USD. Useless when i have to travel and a hotel in NY or India costs 400 USD / night. |
_________________
www.justbeer.cn Get Loooooooose! |
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