For­eign banks still mar­ginal but make progress

China Daily (Canada) - - NEWSCAPSULE -

Af­ter years of ex­pand­ing their net­works, for­eign banks in China re­main mar­ginal play­ers in re­tail and con­sumer spa­ces. Still, they are slowly build­ing mar­ket share and ex­pand­ing their pres­ence in the fi­nan­cial ser­vices sec­tor and among their cor­po­rate clients.

China’s reg­u­la­tors are en­cour­ag­ing them. A se­ries of reg­u­la­tory an­nounce­ments last year opened the door for more in­ter­na­tional ac­tiv­ity like trade and cross­bor­der fi­nanc­ing at which global banks ex­cel.

In a re­port in Jan­uary, global ac­coun­tancy firm EY noted that for­eign banks are gen­er­ally op­ti­mistic about the prospects for the China mar­ket but worry about com­plex reg­u­la­tions that com­bine with cap­i­tal and liq­uid­ity con­straints to make their growth dif­fi­cult. (Photo 1)

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