Chinese Banks to be Allowed to Finance M&As

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Dec. 11 – The China Banking Regulatory Commission has revised regulations to allow qualifying banks to finance mergers and acquisitions for all domestic companies for the first time in China.

The regulation aims to foster economic growth and fund restructuring plans for industries affected by the global credit crisis.

China Daily reports that an unnamed general manager from a logistics company said that his company has been already been looking at funding to finance its acquisition plan. “We will study the CBRC’s latest move very carefully and try to obtain some loans for our projects,” the manager said.