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China's Small Bank Mergers and Closures Nearly Double in 2023
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China's Small Bank Mergers and Closures Nearly Double in 2023
The number of mergers and closures involving smaller banks in China has almost doubled this year compared to last year, driven by rising market competition and significant shifts in the industry landscape due to advancements in financial technology. Since the beginning of the year, approximately 377 small Chinese financial institutions have either merged or shut down, up from 195 for the entire previous year, according to data from a financial i…
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