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Americans may freak out that the Chinese want to buy American companies, but the Chinese don’t seem so bothered by foreign investment. The Royal Bank of Scotland is leading a group of investors that’s buying a 10% stake of the Bank of China. RBS is taking 5%, and they’ll manage another 5% on behalf of their partners, Merrill Lynch and Li Ka-shing.

The deal, which is subject to regulatory approval, will give RBS access to a bank with 11,307 branches, a 12 percent share of the loans market in mainland China and 14 percent of the savings market.

I’m glad to see some countries embrace capitalism, even if they’re Communist.

Posted by edelfenbein at August 18, 2005 2:18 PM