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UBS plans for mutual-fund license in China
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UBS is preparing to apply for a mutual-fund license in China, according to people familiar with the matter, becoming the latest Western bank to take advantage of Beijing’s relaxed rules on foreign financial institutions.
The Swiss bank has held informal communications with the China Securities Regulatory Commission about its intention to apply, and plans to submit the application as soon as possible, some of the people said.
UBS...
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