By Frank Tang
Australian banks are retreating from China’s most lubricant financial businesses, even as Wall Street and European competitors queue up to get deeper into the world’s second largest market.The sharp contrast came amid tension between Beijing and Canberra over the origin of the coronavirus pandemic, Xinjiang, Hong Kong, the South China Sea, and most recently, trade relations, and there is no sign of a quick improvement.Commonwealth Bank of Australia, the largest Australian bank, announced on…
Source: Australia’s biggest bank scales back stake in Chinese lender amid continuing bilateral tension
