12 Apr 2018
China: New Opportunity
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The Chinese government has decided to permit foreign banks and financial services institutions to own a majority shareholding (up to 51%) in Chinese banks and financial assets management companies by the end 2018.
This is a major policy change and a big change in direction.
Is it due to the escalating trade war with the United States or is it to help the local banks reduce loan default risk by introducing new lenders into the market place who will be eager to offer new finance or something else entirely?
Difficult to know but it opens up increased opportunity for capital markets and business in a 1.4 billion people consumer market.
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