StanChart to raise investments in digital banking, wealth biz

Chairman says group betting on further opening up of Chinese financial system

Standard Chartered Plc said on Monday it will increase investments in China this year with a focus on digital banking, wealth management and its renminbi business while seeking to partner up with the Chinese side under the Belt and Road Initiative, the group's chairman said.

Jose Vinals, chairman of the London-based international banking and financial services company, said that China is a critical market for the bank as the country and the northern Asian region are contributing about 40 percent to the group's total income.