Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: RealMuLan who wrote (61388)	3/31/2005 1:35:48 PM
From: RealMuLan	Read Replies (1) of 74559

Foreigners hold $3.19B in China banks 10 banks have foreign shareholders, 8 more in talks By MarketWatch Last Update: 1:25 AM ET March 31, 2005 SAN FRANCISCO (MarketWatch) - China's Banking Regulatory Commission said foreign investment in Chinese banks stood at $3.19 billion at the end of 2004, according to a published report Thursday. Commission chairman Liu Mingkang said that 10 Chinese banks already have given clearance to foreign financial institutions as strategic investors, including Citigroup (C: news, chart, profile) and HSBC (HBC: news, chart, profile) (UK:HSBA: news, chart, profile) , AFX-Asia reported. AFX said the investment figure was posted on the commission's Web site. Another eight Chinese banks are in talks seeking foreign investment, Liu was quoted as saying. China's banking regulations cap combined holdings of foreign investors in a mainland bank at 25 percent, with a 20 percent limit for an individual foreign stakeholder. marketwatch.com

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