(Corrects name of bank regulator in second paragraph to Shang
Fulin, removes "four" from headline)
BEIJING, March 11 China will launch a pilot test
for privately owned banks in its more prosperous regions of
Tianjin, Shanghai, Zhejiang and Guangdong, the country's bank
regulator Shang Fulin said on Tuesday.
The pilot, which was approved by China's government in
January, is the first tentative step by the country to open its
hitherto closely guarded banking sector to private investors.
(Reporting by Kevin Yao and Shao Xiaoyi; Editing by Richard