The Pudong financial district in Shanghai and home to the new free-trade zone, where foreign banks can set up shop directly. Photo: Reuters

Beijing eases entry for foreign banks in milestone plan

Mainland clears way for overseas lenders to set up wholly owned units in new free-trade zone that normally requires long approval process

Topic |   Shanghai free-trade zone
The Pudong financial district in Shanghai and home to the new free-trade zone, where foreign banks can set up shop directly. Photo: Reuters
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