China's banking regulator said Hong Kong-based banks set up 23 branches and six locally incorporated institutions on the mainland by the end of July, while mainland banks were equally represented in the special administrative region.
By the end of July, 14 Hong Kong-based banks were represented on the mainland, with total assets of 35.9 billion U.S. dollars, 24.5 percent up from the same period last year.
The assets held by Hong Kong-based banks account for 26.2 percent of all overseas bank assets on mainland China, according to the China Banking Regulatory Commission (CBRC).
The commission said 12 domestic banks, including the Bank of China and the Industrial and Commercial Bank of China, also opened 23 branches in Hong Kong and reported robust growth in their Hong Kong business.
Trade between the Chinese mainland and Hong Kong soared to 123.37 billion U.S. dollars in the first eight months, up 22.5 percent from the same period last year, according to China's Ministry of Commerce.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article