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'Now corporate banking generates 80 pct of DBS's China revenue. But we expect to lower the ratio to 60 pct within five years, after being able to offer yuan-denominated services to local individuals in China. (By then) China's revenue would account for 7-9 pct of the total income of DBS Group,' Lin said.

DBS Group last week said unit DBS Bank (China) Ltd will start operating today, a week after receiving final approval from the China Banking Regulatory Commission to incorporate locally.

The new subsidiary has registered capital of 4 bln yuan.

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