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Dispatches: RBS eyes up China JV

Royal Bank of Scotland is close to forming a venture with China’s Guolian Securities as part of the British lender’s expansion in the booming Asian economy, a source with knowledge of the matter has said. (Shanghai Daily)

China’s five state-owned banks have all set aside more than 2.5 percent of their total loans to cover potential non-performing loans (NPL), and smaller banks may have to increase their provisions in 2011, the China Securities Journal reported on Monday. (Reuters)

The finance chief of AIA who quit the pan-Asia life insurer when it looked like it would be sold to the UK’s Prudential, plans to launch a Hong-Kong-based reinsurer that would seek to raise $500m-$1bn of capital. (Financial Times)

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