China Open to More Foreign Bank Licenses

The Chinese government is looking to approve global banks for majority ownership in local security ventures; the China Securities Regulatory Commission (CSRC) is looking to grant more licenses in the next 6 months; UBS Group AG was already approved and JPMorgan and Nomura Holdings have also applied; even with trade tensions getting higher the move could potentially be a big one for the banks and the Chinese government; the financial sector in China is worth more than $40tn. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.