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Fed clears China’s first US bank takeover
The United States opened its banking market to China’s biggest bank ICBC, for the first time clearing a takeover of a US bank by a Chinese state-controlled company. Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority…
Almost half China’s richest want to emigrate: survey
Nearly half of China’s wealthiest citizens are considering emigrating, with the United States and Canada the most popular destinations, according to a new report from the authors of China’s rich list. The survey by the Bank of China and the Hurun Report, which publishes luxury magazines and runs a research institute, found that 46 percent…
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