Westpac wins Shanghai approval

Aust bank gets consent to open a branch in free trade zone: report.

Westpac (WBC) will open a branch in the newly established Shanghai free trade zone after securing the authorisation of the China Banking Regulatory Commission, according to The Australian Financial Review.

The development follows news that ANZ Bank would open a branch in the free trade region, around Pudong, which is being set up to test further liberalisation of the Chinese economy.

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