China Construction Bank (CCB) and Shenzhen Development Bank announced they were joining forces in an effort to boost competitiveness and streamline their services in the face of expected growth of foreign competition. The agreement will cover cooperation in corporate finance, individual finance, foreign exchange business and fund management among others, a CCB official told state media. Launched in 1987, Shenzhen Development Bank, was the first Chinese bank to list in the stock market. CCB, expected to list this year and the smallest of China's Big Four banks, offers what its new partner needs — a large capital base and a sprawling nationwide network.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved