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Empresas y finanzas

China to start pilot for four privately owned banks


    BEIJING (Reuters) - China will launch a pilot test for privately owned banks in its more prosperous regions of Tianjin, Shanghai, Zhejiang and Guangdong, the country's bank regulator Xiao Gang said on Tuesday.

    The pilot, which was approved by China's government in January, is the first tentative step by the country to open its hitherto closely guarded banking sector to private investors.

    (Reporting by Kevin Yao and Shao Xiaoyi; Editing by Richard Pullin)