Foreign banks allowed to conduct RMB business ( 2003-12-01 11:07) (Xinhua)
China from Monday allowed eligible foreign-funded banks to provide RMB
businesses to Chinese enterprises, announced Liu Mingkang, chairman of the China
Banking Regulatory Commission (CBRC), Beijing Monday.
Foreign banks were previously allowed of RMB business only to overseas
enterprises, said Liu.
There are now 13 Chinese cities where foreign banks can conduct RMB business,
which include Shanghai, Shenzhen, Tianjin, Dalian, Guangzhou, Zhuhai, Qingdao,
Nanjing, Wuhan, Jinan, Fuzhou, Chengdu, and Chongqing.
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