ABC’s IPO Underscores the ABCs of Banking in China
With the world record-breaking $22 billion IPO of Agricultural Bank of China (ABC) on July 15, Beijing relinquished another small part of its hold on the country’s financial services sector. But the process of modernizing the country’s banks is far from over, say experts in China and beyond. As ABC and its local rivals struggle to shed their legacy as state-directed “policy banks,” many …
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