More Chinese banks to invest in US


This week, a Chinese bank was given the green light to take over a US bank for the first time.

State-owned Industrial and Commercial Bank of China was given the nod to acquire the US subsidiary of Bank of East Asia, just days after high-level economic talks between the US and China in Beijing.

Iain Anderson, director at the financial services consultancy Cicero Group, told the BBC's Sharanjit Leyl that this was "a starting point" for investment from Chinese banks into the US.

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