Home>News Center>China
       
 

Overseas banks to move into RMB business
By Zhang Dingmin (China Daily)
Updated: 2005-12-06 05:49

China granted foreign banks more freedom to conduct the crucial local currency business yesterday, moving ahead of its market-opening schedule as required by World Trade Organization (WTO) commitments.

Starting yesterday, foreign banks like HSBC have been able to offer renminbi business to Chinese and foreign businesses and foreign individuals in seven more cities.

Shantou and Ningbo were opened up in accordance with the nation's WTO commitments, while Harbin, Changchun, Lanzhou, Yinchuan and Nanning, which were not on the schedule, were also opened, bringing the total number of cities to 25.

Meanwhile, the China Banking Regulatory Commission (CBRC) announced a reduction in the highest tier of operating-capital requirement for foreign bank branches' renminbi business to 400 million yuan (US$49 million) from 500 million yuan (US$61 million).

The operating-capital requirement for renminbi business for branches of foreign-owned and Sino-foreign banks was lowered to 200 million yuan (US$24 million) from 300 million yuan (US$37 million).

"These measures will certainly create an even better systemic environment for the development of foreign financial institutions in China," said Liu Mingkang, chairman of CBRC. "Profound changes are taking place in the opening-up and reform of China's banking sector."

Although the liberalization moves were bolder than many expected given the limited time left for local banks to prepare for full foreign competition, some analysts say they demonstrate the authorities' determination to catalyze progress in the local banking sector through competition.
Page: 12345



Heavy snowfalls in Dalian
International Volunteer's Day
A fire in Hebei province
  Today's Top News     Top China News
 

China places biggest Airbus order, relations warmer

 

   
 

Overseas banks to move into RMB business

 

   
 

Malaysian minister arrives to mend fences

 

   
 

Saddam: 'I am not afraid of execution'

 

   
 

China: No change to yuan policy

 

   
 

China, Belarus sign market economy deal

 

   
  China, France sign 16 agreements on cooperation
   
  Mystery of UFO research centre puzzles scientists
   
  Malaysian minister arrives in Beijing to mend fences
   
  Bus accident kills 24, injures nine in Beijing suburb
   
  Hopes rise for men trapped in flooded coal mine
   
  CNPC sacks three responsible for blast
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 女人扒开尿口给男人捅| 欧洲精品码一区二区三区| 国产v亚洲v天堂a无码| 日本亚洲黄色片| 国产精品青草久久久久福利99 | 青青青国产依人精品视频| 在线观看亚洲电影| www.尤物在线| 成人免费一区二区三区视频| 久久久久亚洲av成人网人人软件 | 丝袜美腿美女被狂躁动态图片| 日本特黄特黄刺激大片免费| 亚洲一区二区三区免费视频| 欧美无遮挡国产欧美另类| 亚洲线精品一区二区三区影音先锋 | 内射干少妇亚洲69xxx| 阿v网站在线观看| 国产成人亚洲精品无码青青草原| 伊人影院中文字幕| 国产线视频精品免费观看视频| 亚洲欧美日韩精品久久亚洲区 | 亚洲欧美日韩丝袜另类| 国产精品高清全国免费观看| 99国产精品久久久久久久成人热 | 国产精品R级最新在线观看| 91国视频在线| 国产麻豆videoxxxx实拍| 99久久精品美女高潮喷水| 天堂网在线资源www最新版| jizzjizz丝袜老师| 天天色天天射综合网| jizz中国jizz欧洲/日韩在线| 好好的日视频www| 一个人看的视频在线| 小猪视频免费网| 一级做a爰性色毛片| 川上优最新中文字幕不卡| 一级毛片免费一级直接观看| 强行入侵粗暴h肉囚禁| 丁香六月激情综合| 情侣视频精品免费的国产|