The Hong Kong Monetary Authority has granted a banking licence to CHINA DEVELOPMENT BANK CORPORATION (CDB) under the Banking Ordinance. The granting of this banking licence took effect on 25 June 2009.
CDB is a bank incorporated in Mainland China and has maintained a local representative office in Hong Kong since 1999. It is the fifth largest commercial bank in terms of total assets on the Mainland.
After the granting of a banking licence to CDB, the number of licensed banks in Hong Kong has increased to 145.
D.C.