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COPYRIGHT 2006 Asia Pulse Pty Ltd
BEIJING, March 1 Asia Pulse - The trend of cross-sector operations in the financial business is gaining momentum in China with several banks itching to set up their own insurance companies.
Insiders said Bank of Communications, the fifth-largest lender in the country, has received the green light from the State Council to be a pilot universal bank, which means it can run other financial businesses such as in insurance.
"We do commit to setting up the...
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