China now hosts 14 HK bank branches

There are now 14 Hong Kong-based bank branches on the Chinese mainland nine years after the signing of a key economic plan.

The mainland and Hong Kong signed the Closer Economic Partnership Arrangement in 2003, which relaxes restrictions for HK banks to invest in or buy shares of mainland commercial banks as well as lowered the requirements of the asset size for HK banks to set up branches on the mainland.

These branches of HK banks constitute 42 percent of the total overseas banks and hold respectively 35 percent of the total assets and 38 percent of the profits of overseas banks, according to People's Daily.

As of the end of this June, six HK banks had invested in or bought shares of six mainland-based banks, the daily reported.

For more.

Also Read

Krungthai Bank temporarily closes 4 branches due to floods

Bank Negara Malaysia releases policy document on claims settlement practices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit