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China Minsheng board approves Hong Kong investment banking

China Minsheng board approves Hong Kong investment banking

(09 January 2013 – Hong Kong) Privately owned China Minsheng Banking Corporation is moving to open an investment banking unit in Hong Kong. The bank received approval from its board of directors and will take advantage of the wider acceptance of the renminbi in global business, the branch will open after regulatory approval is received.

China's ‘big four’ state owned banks (ICBC, China Construction Bank, Agricultural Bank of China and Bank of China) already have investment banking units in Hong Kong.

Minsheng received a banking license from the Hong Kong Monetary Authority last year.

Misheng provides loans, deposits, bank cards, credit cards, wealth management services, investment services, agency fund products and foreign exchange trading, among others.
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