China Construction Bank Applies for Swiss Licence: FINMA

by swisscham in Business

State-owned China Construction Bank (CCB) has applied to Switzerland’s FINMA for a banking license in the country, a spokesman for the regulator said on Wednesday. Chinese state-owned banks have been aggressively expanding overseas in recent years, partly aiming to facilitate the internationalization of the Chinese yuan currency. “I can confirm that we received an application for a Swiss banking license by the CCB this month,” a FINMA spokesman said in an emailed statement.

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