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Standard Chartered China-incorporated unit gets operating license


Published : Thu, 29 Mar 2007 05:37
By : Agencies
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BEIJING (XFN-ASIA) - Standard Chartered Bank (China) Ltd said it has received a business license from the Shanghai Bureau for Industry and Commerce, marking the formal incorporation of the new company in China.

Standard Chartered Bank (China) Ltd will hold its first board meeting tomorrow in Shanghai, and the new company will commence business on April 2, the bank said in a statement.

Standard Chartered was one of four banks approved by China's banking regulator to incorporate locally. The others are HSBC, Citigroup, and Bank of East Asia.

will.davies@afxasia.com

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