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SEP 27, 2013 - Forbes

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In China, "Cats And Dogs Are All Opening Banks"

“Cats and dogs are all opening banks” is how Chinese netizens capture the fervor for private-sector banks in China right now. This wave of heat was set off in July by the central bank’s call to “experiment letting private capital initiate and set up banks at their own risks”, and fueled by central bank president Zhou Xiaochuan’s reiteration of such plan in the Party’s mouthpiece magazine "Seeking Truth" last Monday.

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