Easy access for foreign banks
The State Council published the amended rules to ease market access for foreign banks on Dec 20, 2014.
It regulated that China will no longer require a specific amount of operating funds to be transferred from the parent foreign bank to its newly-established Chinese branch from Jan 1, 2015.
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A pedestrian walks past a Citibank branch in Philadelphia on Dec 9, 2014. [Photo/IC] |
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