皇冠体育app

Top Biz News

Banks get 5-year grace period

By Zhang Ran (皇冠体育app Daily)
Updated: 2006-11-23 08:33
Large Medium Small

To implement 皇冠体育app's banking commitment to the World Trade Organization, the Chinese Government has been working on rules to allow foreign-funded banks to deal with renminbi retail business after December 11.

Wang Zhaoxing, assistant chairman of the 皇冠体育app Banking Regulatory Commission said last week that foreign banks could enjoy "national treatment" in the banking business after the two rules become effective on December 11.

In order to better protect the interests of domestic depositors, the Chinese Government is encouraging foreign banks to incorporate locally when dealing in renminbi retail business.


(皇冠体育app Daily 11/23/2006 page9)

   Previous Page 1 2 Next Page