Foreign Banks to Access Fund Custodian Businesses in China for the First Time10-31 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.
Editors’ Picks »
- 1Muddy Waters Bets Against Chinese Banks Citing High Level of Toxic Assets
- 2China's Interest-Rate Challenge
- 3Jiangsu to Build China's First Local Firm to Dispose of NPLs: Report
- 4CNY 3.5 Tln of LGFVs to Come Due in China in Two or Three Years
- 5China’s Provincial GDP Figures in 2012
- 6Southern China Tightens Scrutiny on Rice Tainted with Cancer-Causing Cadmium
- 7Goldman Sachs Sells out ICBC Stake, Reaps 7Bln over 7 Years
- 8North Korea Detained 16 Chinese Fishermen, Demanding a Ransom of CNY600,000: Global Times
- 9China Property Prices Climb Slower in April on Local Cooling Measures
- 10President Xi to Meet with Obama in June After Trinidad and Tobago, Costa Rica, Mexico Trip