Banking News
- Shanghai News
Date: 11-Jan-2007 Sources: (Shenzhen Daily)
THE total assets of foreign banks in Shanghai have risen to US$60 billion, a Shanghai official said Tuesday.
The total assets of foreign banks in Shanghai have grown by 31 percent annually over the past five years, said Fang Haixing, deputy director of the Shanghai Municipal Office of Finance Service. They now make up 14.2 percent of the Shanghai banking sector, up from 13.1 percent in 2005. Foreign banks had set up 94 business branches in Shanghai by the end of last October, almost double the number five years ago, the official said.
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