Chinese shadow banking totals only about $2.2 trillion.
Bank of India has upgraded its Representative Office in the southern city of Shenzhen into a full-fledged branch, a month ahead of China's opening up of its banking sector to foreign competition.
The State Bank of India hopes to upgrade its Representative Office in Shanghai soon into a full-fledged branch and commence normal banking operations by early next year, sources said on Tuesday.
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
The new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
Non-performing loans in the Chinese banking system stood at RMB 1.27 trillion at the end of 2015.
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