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China's top securities regulator is planning to grant investment bank licenses to commercial lenders in an effort to expand banks’ business reach and breed industry behemoths amid mounting competitions from foreign banks , reported several Chinese news outlets including Caixin and The 21st Century Business Herald.
In a pilot scheme, the China Securities Regulatory Commission (CSRC) will grant green light to at least two of China's largest banks to conduct investment banking business, in an efforts to create “aircraft carrier-size” investment banks, according to the reports.
Initially, the license is likely to be . . .
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