China blocks Carlyle bid for bank

Article Abstract:

A bid for an 8% stake in China's Chongqing Commercial Bank Co. by US investment bank Carlyle Group L.P. has been rejected. Chongqing states that Carlyle's bid, valued at $43 mil, did not receive regulatory approval as its purchasing vehicle did not meet requirements.

Investment Banking and Securities Dealing, Investment Banking, Financial management, Securities issued, listed, Security brokers and dealers, Investment banks, Company investment, Investments, Securities, Company securities, Carlyle Group L.P.

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Beijing clears the path a bit for foreign banks: lenders' local units get a key approval, but issues remain

Article Abstract:

The Chinese government is allowing foreign banks to establish locally incorporated units, making it easier for them to operate in China. This will allow the banks to conduct business with Chinese individuals, instead of only doing business with corporations.

United Kingdom, United States, Foreign operations, International economic relations, Services discontinued, Service discontinuation, Trade policy

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