Fed accused of stalling on Chinese bank licences

Chinese officials have said the Federal Reserve is delaying the approval of banking licences for two of its biggest banks as part of a political ploy.

The Chinese officials told the Financial Times, a newspaper, that the delaying of licences for the Industrial and Commercial Bank of China and China Construction Bank were part of a negotiating strategy in the bilateral Strategic Economic Dialogue that began on Tuesday.

"The US should give a positive sign on the bank licences during the dialogue,"

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