HONG KONG/BEIJING: China is working to finalise its first rules to cover online-only banking operations in a push to minimise risk in the financial sector and attract players including foreign lenders, three people with direct knowledge of the matter said.
The guidelines could also bolster foreigners with existing China operations such as Citigroup Inc, HSBC Holdings PLC and Standard Chartered PLC by allowing them to set up separate digital banking platforms, two of them said.
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