Foreign capital banks in Shanghai are becoming increasingly competitive as shown by faster increases in deposits and loans than their Chinese counterparts in the first half of this year, according to the Shanghai Bureau of the China Banking Regulatory Commission (CBRC).
Statistics released by the CBRC Shanghai Bureau show that by the end of June, foreign financial institutions had established 65 operational units in Shanghai. Among them were 46 branches of foreign banks, five locally registered foreign capital banks and finance companies with corporate status, one branch of a locally registered foreign capital bank with corporate status, and 13 local sub-branches.
Besides, the leading financial centre of China is home to 84 representative offices of foreign capital banks and non-banking financial institutions (excluding foreign capital insurance companies and securities companies), of which 73 were banking setups and 11 were non-banking setups.
