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Nine Foreign Banks Get First China Registration Nod - ASHARQ AL-AWSAT English Archive
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BEIJING (Reuters) – China’s banking regulator said on Sunday it had granted approval for nine foreign banks to prepare for local registration, an initial step in granting national treatment.

The nine are Standard Chartered, Bank of East Asia, HSBC, Hang Seng Bank, DBS , Bank of Toyko-Mitsubishi, Mizuho Corporate Bank, Citigroup Inc. and ABN AMRO.

The list was published on the banking regulator’s Web site (www.cbrc.gov.cn).

The mainland issued new foreign bank guidelines on November 16 to fulfill its obligations for entry into the World Trade Organization, which stipulates that the country must further open its banking sector to overseas competition from December 11.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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