China to allow private capital to set up banks: CPC document
                 English.news.cn | 2013-11-15 18:55:08 | Editor: An

Top Chinese leaders Xi Jinping (C), Li Keqiang (3rd R), Zhang Dejiang (3th L), Yu Zhengsheng (2nd R), Liu Yunshan (2nd L), Wang Qishan (1st R), Zhang Gaoli (1st L) attend the third Plenary Session of the 18th CPC Central Committee in Beijing, capital of China, Nov. 12, 2013. The session lasted from Nov. 9 to 12. (Xinhua/Lan Hongguang)

BEIJING, Nov. 15 (Xinhua) -- China will open up the banking sector wider, on condition of strengthened regulation, by allowing qualified private capital to set up small- and medium-sized banks, the Communist Party of China (CPC) said in a landmark policy document released on Friday.

The lengthy policy document -- officially named "a decision on major issues concerning comprehensive and far-reaching reforms" -- was approved by the Third Plenary Session of the 18th CPC Central Committee, a four-day key meeting which ended on Nov. 12.

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