Chinese financial institutions are pushing into Europe, opening bank branches, scouting for deal opportunities and even attending German banking classes, in the latest illustration of China's growing global economic clout.
China Development Bank, a giant government-owned lender, is one of four final parties eyeing a big stake in troubled German bank WestLB AG, according to people familiar with the matter.
Another huge bank, Industrial & Commercial Bank of China Ltd., this month is opening branches in Paris, Brussels, Amsterdam, Milan and Madrid. Last week, it agreed to buy as much as 80% of a U.S. banking company.
For more: Chinese Banks on the Prowl in Europe - WSJ.com
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