CHINAS banking regulator will accept the application of eight foreign banks for local incorporation today, the China Banking Regulatory Commission (CBRC) said yesterday on its website.
Following the issuance of the new Regulations on Administration of Foreign-funded Banks, HSBC, Citigroup, Standard Chartered Bank, Bank of East Asia, Hang Seng Bank, Mizuho Corporate Bank, DBS Bank and ABN AMRO have applied to turn their operations in China to locally registered corporations, CBRC said.