African partnerships

China's energy partnerships with Africa are based on equality and mutual benefit, and will not influence any other party, Premier Wen Jiabao said last Tuesday.

During talks with Angolan President Jose Eduardo dos Santos, Wen said China is ready to work with Angola and other African countries in the energy sector.

"This is only one part of co-operation between China and Africa in a wide range of fields," Wen said.

Administrative revisions

China's banking regulator is likely to soon complete revisions on an administrative rule that would allow foreign banks to deal with the renminbi retail business across the country.

The draft rule will require further approval from the State Council, a source said last week, on condition of anonymity.

Foreign banks will be encouraged to register corporations in China, instead of setting up branches to deal with the renminbi business. This will protect the interests of domestic depositors, according to the revised rule. The minimum registered capital of a foreign banking corporation is said to be around US$125 million.

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