China Streamlines Rules to Attract Foreign Banks
China Streamlines Rules To Attract Foreign Banks
BEIJING - China's central bank has published streamlined regulations that make it easier for foreign banks to establish representative offices here, Chinese officials said.
Under the revised rules from the People's Bank of China, a foreign bank need no longer establish its first representative office in Beijing but rather may choose any open Chinese city.
The central bank also eliminated regulations requiring foreign representative bank offices to reregister with the government every three years.
Banks may now submit applications to establish offices at any regional …
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Publication information: Article title: China Streamlines Rules to Attract Foreign Banks. Contributors: Not available. Magazine title: American Banker. Volume: 156. Issue: 115 Publication date: June 14, 1991. Page number: 11. © 2009 SourceMedia, Inc. COPYRIGHT 1991 Gale Group.
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