July 21, 2020 / 10:09 AM / in 19 days

China to grant BNP Paribas custody and payments licence-French finmin

PARIS, July 21 (Reuters) - Chinese authorities have favourably reviewed French bank BNP Paribas’ request for a securities custody and payments licence, France’s Finance Minister Bruno Le Maire said on Tuesday.

Le Maire also told reporters that China would lift joint venture obligations for Axa, allowing the French insurer to become the first foreign finance firm to own 100% of a Chinese company. (Reporting by Leigh Thomas; Writing by Matthieu Protard; editing by Louise Heavens)

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