China to allow fully private banks this year | Bangkok Post: news

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China to allow fully private banks this year

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China will allow three to five fully private banks to be set up this year as part of efforts to further open up the sector, the banking regulator said. 

A woman takes money out of an automatic teller machine in Chengdu on May 21, 2007

At a work conference on Monday, the China Banking Regulatory Commission (CBRC) said it will allow private capital either to take part in restructuring existing banks or set up new ones at their own risk, according to a statement.

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