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Higher costs, compliance worries hold Western banks on China's Silk Road

The Belt and Road initiative is aimed at bolstering Beijing's global ambitions

Reuters  |  Beijing 

For global banks, China's new "Silk Road" is a tantalising concept -- billions of dollars in deals, loans and advisory fees, and a cosier relationship with Beijing for those who step up. Dozens of senior international bankers turned up at the weekend for a Beijing summit to promote China's "Belt and Road" initiative, an ambitious plan to open new trade corridors across the globe using roads, power lines, ports and energy pipelines. But commercial considerations, higher funding costs and compliance worries are holding Western lenders back, and some ...

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First Published: Wed, May 17 2017. 17:16 IST