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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (June 25) that the Monetary Authority has granted a banking licence to China Development Bank Corporation (CDB) under the Banking Ordinance. The granting of this banking licence took effect on June 25, 2009.
CDB is a bank incorporated in Mainland China and has maintained a local representative office in Hong Kong since 1999. It is the fifth largest commercial bank in terms of total assets on the Mainland.
After the granting of a banking licence to CDB, the number of licensed banks in Hong Kong has increased to 145.
For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Peggy Lo, Manager (Communications), at 2878 1687
Ends/Thursday, June 25, 2009
Issued at HKT 18:31
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