Reg­u­la­tor ap­proves new pri­vate banks

China Daily (Hong Kong) - - BUSINESS -

China’s bank­ing reg­u­la­tor on Tues­day gave ap­proval to five new pri­vate banks, bring­ing the to­tal num­ber of pri­vate lenders to 16. The five banks will be in Bei­jing, Jiangsu, Jilin, Liaon­ing and Shan­dong, ac­cord­ing to the China Bank­ing Reg­u­la­tory Com­mis­sion web­site. Each of the banks will be co-spon­sored by at least two pri­vate cap­i­tal providers. No­tably, two of them will be head-

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