China planning to provide investment banking licenses to lenders.
BANKING AND CREDIT NEWS-June 29, 2020--China planning to provide investment banking licenses to lenders
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Global Banking News - 29 June 2020
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China's securities regulator is said to be planning to offer investment banking licenses to lenders, according to Reuters.
The move comes as the government is looking to boost local firms that are anticipating competition from foreign firms as China is opening up its financial sector to foreign firms. The government is planning a pilot scheme in which at least two financial firms will be given permission by the China Securities Regulatory Commission (CSRC) to conduct investment banking business on the mainland.
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