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Foreign news: Poland banks on Brexit moves, China sets up online payments clearinghouse

31 August 2016 4:19PM
Poland has become the latest country to woo some of Britain's biggest banks in the wake of the Brexit vote with a charm offensive in London this week to lure City institutions to Warsaw, the FT reports. The Polish deputy prime minister, himself a former Santander banker, will arrive on Thursday armed with a package of incentives to offer senior executives at banks that have shown an interest in shifting jobs to the continent. China's central bank is creating a new clearinghouse for online transactions, a key step toward closer oversight of the country's third-party payment market, reports online news service Caixin. About 200 third-party payment firms, led by Alibaba Group-affiliated Alipay and Tencent Holding's Tenpay, have provided the backbone for China's online retail and financial market. But they've also been accused of sidestepping necessary regulatory supervision. The market has been expecting changes since late July, when the People's Bank of China approved a plan to create a new platform to clear all transactions from online payment gateways using standard protocols and rules, Caixin reported.

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