Banking in China

BY

The Chinese government said Sunday it will consider allowing eight foreign banks, including U.S. banking giant Citigroup Inc., to accept retail deposits in China.

China currently limits how and where foreign banks can operate. Under new finance regulations the country adopted Monday to join the World Trade Organization, the government agreed to allow foreign-funded retail banks to apply to accept yuan deposits.

New York-based Citigroup was one of eight foreign banks to apply. Others include Britain s HSBC Corp. and Standard Chartered PLC; Dutch banker ABN Amro Holding NV; Mizuho Corporate Bank of Japan; Singapore s DBS Bank; and Hong Kong s Bank of East Asia and Hang Seng Bank, according to the China Banking Regulatory Commission.

If the applications are approved, China said it will permit the foreign banks to transact in local currency and allow the branches to accept deposits of at least 1 million yuan ($128,000).

lin_ximing

BY  在 2006-12-11 10:56 PM 發表:

The Chinese government said Sunday it will consider allowing eight foreign banks, including U.S. banking giant Citigroup Inc., to accept retail deposits in China.

China currently limits how and  ...

谢帖

kwy

Thanks!!!