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 stock banks, provincial and city banks. The large foreign banks with extensive networks come in after that and then you have about 190 to 200 other foreign banks,” said Crawley at the EuroFinance cash,...

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