Foreign banks hoping to set up operations in rural China can look forward to streamlined banking rules as the country is looking to improve financial support for farmers as well as narrow the wealth gap in the country.
One measure taken to ease financial and management burdens will be to
permit foreign banks to manage their operations in different regions
either through a single unit or China-integrated subsidiary. Banks are
currently required to run rural operations through offshore bodies with
separate teams for each unit, Bloomberg reports.
A pilot program, steered by The China Banking Regulatory Commission,
will allow two or three foreign financial companies to operate under
the provisional new rules, which will be revised only after completion
and appraisal of the program.
News & Interviews 
(0 vote)
