Banco Santander is planning a $400 million+ joint venture with China Construction Bank to develop rural China. One possible perk, China South America points out, is that they may be able to bypass the 20% ownership limit for foreign ownership of urban banks.
See China South America for more details.
3 comments on “Spanish bank invests in rural China”
Glad you picked up on the significance of such a move and much thanks for the shout out on your site. Sadly, this post (along with 3 others) have been victim of constant spam comments so I made it private just this afternoon. I think i’ll re-post and send you a link tomorrow. Once again thanks and great site you got going on here.
No problem, glad to promote such an interesting niche on China. Is there any greater significance between Spanish-Chinese relations that I’m missing btw?