The Industrial and Commercial Bank of China , the country's top lender, submitted a plan to CSRC in late 2018 seeking to set up a securities unit with registered capital of 100 billion yuan .[SHANGHAI] China's securities regulator plans to grant investment banking licences to commercial lenders as part of efforts to breed industry behemoths in the face of fiercer foreign competition, business magazine Caixin reported.
A pilot scheme could involve at least two of China's largest banks getting the green light from the China Securities Regulatory Commission to conduct investment banking business on the mainland, according to Caixin. The Industrial and Commercial Bank of China , the country's top lender, submitted a plan to CSRC in late 2018 seeking to set up a securities unit with registered capital of 100 billion yuan , Caixin reported.ICBC declined to comment. CSRC didn't return an emailed request for comment.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: The Straits Times - 🏆 8. / 63 Read more »