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Foreign investors line up for China financial services play By JIANG XUEQING | China Daily | Updated: 2021-05-06 09:03 Share DBS stake in Shenzhen rural bank signals rising confidence in new round of opening-up Foreign financial institutions, or FFIs, are planning to increase investment in China s commercial banks or exploring new business opportunities in the country, as China has strengthened efforts to further open up its financial sector, industry experts said. Singapore s DBS Group announced recently its subsidiary DBS Bank has received Singaporean and Chinese regulatory approvals to acquire a 13 percent stake in Shenzhen Rural Commercial Bank with 5.29 billion yuan ($815 million). DBS Bank, a multinational banking and financial services corporation, will use funds owned by the bank to buy 1.35 billion new shares of Shenzhen Rural Commercial Bank, abbreviated as SZRCB, at a price of 3.91 yuan per share.

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