ANZ Joins Banks Exiting Chinese Mainland
(Beijing) — One of Australia's biggest banks has joined a slew of lenders keen on selling Chinese bank holdings due to international risk-control regulations imposed since the 2008 global financial meltdown.
Australia & New Zealand Banking Group Ltd. (ANZ) announced Tuesday it plans to sell its 20% stake in Shanghai Rural Commercial Bank for 9.19 billion yuan ($1.32 billion) to two buyers.
- 1China Asks Banks to Assess Credit Risks Linked to Firms Active in Overseas Deals
- 2Beijing Is Soaking Wet
- 3Authorities Investigate Claims of Cadmium-Laced Wheat From Central China
- 4Weibo and Other Websites Barred From Video Streaming by Authority
- 5Real Estate Tycoon Removed as Political Adviser Over Bribery Allegation