Foreign banks will not be allowed to hold stakes in more than two banks of a similar nature according to strict limits on foreign investment outlined by Tang Shuangning, a vice-chairman of the China Banking Regulatory Commission, the South China Morning Post reported. The rule doesn't bode well for Temasek Holdings, which faces scrutiny over plans to take a 10% stake in Bank of China. The Singapore government's investment arm already owns 5.9% per cent of China Construction Bank and 4.55% of China Minsheng Bank.
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