皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

SED agreements open up 皇冠体育app's financial sector

By Diao Ying (皇冠体育app Daily)
Updated: 2008-12-05 18:13

Special coverage: 皇冠体育app-US Strategic Economic Dialogue Related readings:  皇冠体育app, US end SED with "important consensus"  Paulson gives address to end 5th 皇冠体育app-US SED  SED has achieved a lot  Upcoming SED talks more crucial than ever

During the fifth Strategic Economic Dialogue (SED), 皇冠体育app and the United States reached agreements on a number of issues resulting in a further opening of 皇冠体育app's financial service sector.

Foreign incorporated banks in 皇冠体育app will be allowed to trade bonds in the inter-bank market in 皇冠体育app, both for their customers or their own accounts, on the same basis as Chinese invested banks. This will open up market opportunities for US banks that were previously limited only to Chinese banks.

皇冠体育app's State Administration of Foreign Exchange will allow foreign banks to increase their liquidity through either guarantees or foreign currency loans from overseas affiliates on a temporary basis, notwithstanding foreign currency debt quotas. This will help maintain investor and depositor confidence so that US banks can continue to grow their businesses in 皇冠体育app.