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Analysis & opinionSeptember 1 2004

HSBC leads latest forays into China with 19.9% BoCom stake

HSBC bought 19.9% of Bank of Communications (BoCom), China’s fifth largest bank, for $1.75bn last month, demonstrating the country’s continued allure for major foreign banks eager to invest. Goldman Sachs is also due to follow with an investment of $170m in a planned joint-venture securities firm with Chinese partners.
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