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Financial opening-up draws more foreign financial institutions to Shanghai

August 08, 2018

Morocco's BMCE Bank of Africa is busy preparing to open a branch in Shanghai in the third quarter this year.

To take advantage of China's latest financial sector opening up, foreign financial institutions have accelerated their business operations in Shanghai, China's financial hub.

The Shanghai Banking Regulatory Bureau confirmed that a number of foreign banks have approached the municipal authorities and conducted market research to set foot in China. Some, like the Moroccan bank, have already sent their preparation teams to Shanghai.