China banks leaving London to escape tougher rules

Chinese banks are shifting the focus of their European business away from London towards Luxembourg as they seek to escape tougher British regulation, the Financial Times said on Monday.

The newspaper said Chinese banks had complained to the British government over what they called uneven regulation and “rigorously demanding” liquidity rules in a recent letter.

via Business feed http://www.scmp.com/business/banking-finance/article/1072339/china-banks-leaving-london-escape-tougher-rules