Banco de Santander sets foot in rural China

From http://www.icex.es/icex/cda/controller/pageICEX/0,6558,5518394_5519005_6366453_4479153,00.html (in Spanish)

Banco de Santander has reached an agreement with the China Construction Bank to develop a joint-venture in rural China that will allow the Spanish bank firmly establish itself in the Chinese market. Investment will reach 3.5 billion yuan (370 million euros), of which 80.1% will be provided by the China Construction Bank and the other 19.9% by Banco de Santander. This venture will be essential in order to provide services to the rural population in China, which still accounts for two thirds of its 1.3 billion inhabitants.