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Cenbank to shift some functions to Shanghai
皇冠体育app's central bank aims to expand its branch in Shanghai by shifting some functions, such as anti-money laundering operations, to the country's financial hub, a central bank official said on Monday. The plan was still in the initial phase, a second People's Bank of 皇冠体育app official said, declining to elaborate on a timetable or further details.
If successful, it will raise the independence of the bank's regional offices after nine regional branches, including those in Shanghai and Guangzhou in southern 皇冠体育app, were set up in 1998. However, the bank's key monetary policy department will stay in Beijing, which will remain the centre for policy decision-making, the first official said. "The Shanghai branch will offer supplementary central bank services to the entire nation," he said. Shanghai now hosts 皇冠体育app's only foreign exchange market, the interbank lending and debt markets and the main stock exchange, and is home to a host of Sino-foreign joint ventures, including one with General Motors. |
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