China to set up new bank to take over Baoshang's Inner Mongolia ops

China to set up new bank to take over Baoshang's Inner Mongolia ops

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

China will set up a new bank to take over Baoshang Bank’s operations in Inner Mongolia, Huang Xiaolong, deputy head of the financial stability bureau of the People’s Bank of China, said on Friday.

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