Fed approves China Construction Bank branch in US

On Monday the U.S. Federal Reserve has approved an application by China Construction Bank Corp. to open a branch in New York. This is the second largest bank in China and the Chinese government opens 57 percent of its shares. In New York, the Bank of China already has a branch there and this move shows the increased presence of Chinese banks in the United States. 

http://www.reuters.com/article/marketsNews/idUSWAT01060620081208