Tuesday, October 9, 2012

Major Chinese banks to skip World Bank, IMF talks in Japan as a protest over Territorial Dispute

Major Chinese banks will skip World Bank and International Monetary Fund meetings this week in Japan, China's state media said, in apparent protest over a territorial dispute between the two countries.

Map courtesy LNG World News

China and Japan are locked in a festering row over East China Sea islands that has seen the two sides trade insults, touched off protests in China, and hurt Japanese firms doing business in the Chinese market.


Four state-owned banks -- the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agriculture Bank of China -- will not attend the meetings, Xinhua news agency reported late on Monday.

Read details: Business Recorder


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