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Foreign Banks to Access Fund Custodian Businesses in China for the First Time

10-31 17:31 Caijing

Foreign banks will for the first time be allowed to manage escrow funds in China, as the country's regulator plans to expand the scope of fund custodian banks, the China Securities Journal reported on Wednesday.

Citing an unnamed source with the China Securities Regulatory Commission, the official newspaper said the CSRC is engaged with a revision of a document, which stipulates rules about licenses for fund custodian businesses.

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