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Eversheds comment: Acid test of Chinese private banking hinges on regulatory regime

  • United Kingdom


    Commenting on the decision to open up the Chinese banking market, Stephen Kitts, Asia managing partner at global law firm Eversheds, says:

    "The decision to open up the Chinese banking market to private organisations is an interesting development that sends another signal to business that China is prepared to embrace a more expansive economic policy.

    "It remains to be seen how these arrangements will manifest themselves in practice - ultimately actions speak louder than fine words and the acid test of the statement of good intent is the regulatory regime that will be wrapped around these new institutions. Ultimately however, these gentle steps are very much to be encouraged."

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