China's securities regulator has given the go-ahead to Shenzhen Rural Commercial Bank's (SZRCB) private placement, in which Singapore's biggest bank will take a major stake, marking the first foreign strategic investment in a small or midsize Chinese bank through a private placement in more than a decade.
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Singapore's DBS closer to taking strategic stake in Chinese lender
Move is first foreign investment in small or midsize bank since 2010
DBS is betting heavily on growth in China's Greater Bay Area, which generated more than 11% of China's GDP in 2018. © Reuters
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