Banking News
- Westpac to get China bank license
Date: 24-Apr-2007 Sources: (Shenzhen Daily)
AUSTRALIA'S Westpac Banking Corp. is close to obtaining a banking license in China that would allow it to open a branch in Shanghai, an Australian newspaper reported yesterday.
Citing unidentified sources, the paper said China's banking regulator has given its preliminary approval, with a formal sign-off expected soon. Westpac would start its operations in China with foreign exchange business, the paper said. Westpac has a liaison office in Beijing.
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