The local versus international bank

When doing business in China, it pays to have both local and international banking relationships.

It would probably be easier to try and find a needle in a haystack than to find a multinational company in China with a single banking relationship at least the former may actually exist.

According to Peter Crawley, head of global corporates in the China transaction banking arm of Standard Chartered, the banking network in China is an oligopoly. “You have the big four local banks who probably have more than 15,000 branches, and then there are the joint...

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