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3 Chinese banks seek to expand in Panama

Three Chinese banks have expressed interest in expanding operations in Panama, El Capital Financiero reported Dec. 4, citing the country's economy and finance minister, Dulcidio de la Guardia.

China Development Bank and Export-Import Bank of China will open new offices in Panama, while the Bank of China Ltd. will increase its presence, said de la Guardia, who visited China in October.

The minister also said both Panama and China discussed the possible use of the renminbi in Panama to bring the Latin American country closer to the Asian economic powerhouse.