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BEIJING,
Nov. 16 (Xinhua) -- China's new regulations to open the Renminbi service to
locally-incorporated foreign-funded banks comply with the principle of the World
Trade Organization (WTO).
Song Dahan, deputy director of the Legislative Affairs
Office of China's State Council, made the remark here Thursday at a press
conference. <<Full Text
BEIJING, Nov. 16 (Xinhua) -- After the full openness of
China's banking sector, China will continue to give tax preferential treatment
to foreign-funded banks that have been locally incorporated.
Song Dahan, deputy director of the Legislative Affairs
Office of China's State Council, made the remark here Thursday when responding a
question from the press. <<Full Text
BEIJING, Nov. 16 (Xinhua) -- Only commercial banks are
allowed to control wholly funded foreign banks and foreign joint venture banks
in China, Wang Zhaoxing, assistant Chairman of the Banking Regulatory
Commission, said on Thursday at a press conference.
The precondition required by China's new regulation on
Administration of Foreign-Funded Banks aims to curb the connective trade and
business between banks and their shareholders. <<Full Text
BEIJING,
Nov. 16 (Xinhua) -- The China Banking Regulatory Commission (CBRC) has not
received any application for qualification examination on the acquisition of the
Guangdong Development Bank (GDB), said Wang Zhaoxing, assistant chairman to the
CBRC.
In response to questions at a press conference held
Thursday at the State Council's Press Office, Wang said it is up to the
shareholders and board of directors of the GDB to decide who will win the bid in
acquiring shares of the GDB. <<Full Text
BEIJING,
Nov. 16 (Xinhua)-- Foreign financial institutions with good credit are
encouraged to join China's commercial banks by share purchasing and equity
participation, said Wang Zhaoxing, assistant chairman of the China Banking
Regulatory Commission (CBRC).
Wang said at the press conference held here Thursday that
the introduction of foreign strategic partners into Chinese banks has played a
positive role in improving their risk management and financial innovation and in
enhancing their competitiveness. <<Full Text
BEIJING, Nov. 16 (Xinhua)-- Foreign financial institutions with good credit are
encouraged to join China's commercial banks by share purchasing and equity
participation, said Wang Zhaoxing, assistant chairman of the China Banking
Regulatory Commission (CBRC).
Wang said at the press conference held here Thursday that
the introduction of foreign strategic partners into Chinese banks has played a
positive role in improving their risk management and financial innovation and in
enhancing their competitiveness. <<Full Text
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