Trading places

- By FX Markets Staff
- @FXMarkets_
- 19 Jan 2004

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StanChart incorporates in Hong Kong

Standard Chartered last week announced plans to incorporate its business in Hong Kong under a wholly-owned subsidiary. The move means the bank will be able to take advantage of "closer economic integration between Hong Kong and mainland China", StanChart said in a statement.

In June last year Hong Kong and China signed the Closer Economic Partnership Arrangement giving financial institutions meeting criteria -- including being incorporated in Hong Kong --

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