Private banks get go-ahead
By Jiang Xueqing | China Daily | Updated: 2014-07-26 09:24
Landmark move will see lenders in Shenzhen, Wenzhou, Tianjin
China has approved the establishment of three private banks, a landmark effort for the government to open up the State-controlled financial market to private investors.
The banks will be based in Shenzhen in Guangdong province, Wenzhou in Zhejiang province and Tianjin.
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