Credit Suisse has received permission from China’s regulatory authority to expand its business in the country. The bank is now preparing a capital injection to increase its stake in Credit Suisse Founder Securities to 51 percent, currently they own 33.3 percent.
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Renminbi Hub in Switzerland has 13 partner banks
In 2016, the China Construction Bank (CBC) established the Renminbi Hub in Switzerland and since then, is developing cross-border business with the currency in...