China's Central Bank provides glimpse into new Yuan policy

Article Abstract:

Zhou Xiaochuan of the People's Bank of China in a speech yesterday gave glimpses of how the new Yuan currency revaluation is regulated and which currencies are included in the curreny basket comparison. Mr. Xiaochuan said the U.S. Dollar, Euro, Yen and South Korean Won are key currencies in managing the Yuan exchange rate as well as the currency of any country that trades with China for more than $10 billion per year. The goal is to have the Yuan become more flexible and less tied to the United States Dollar.

Commodity & service prices, Public affairs, Economic aspects, Prices and rates, Speeches, lectures and essays, Company pricing policy, Yuan (China), China. People's Bank of China, Xiaochuan, Zhou

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China relaxes foreign-bank rules

Article Abstract:

The China Banking Regulatory Commission has eliminated China's policy of restricting foreign banks to opening only one branch per year. In addition to allowing greater foreign bank expansion, the regulatory agency is also relaxing its minimum-capital requirements for bank branches. Both initiatives are part of China's plan to fully open its banking industry to foreign competition by 2006.

Legal issues & crime, Government regulation (cont), Government regulation, International economic relations, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Legal/Government Regulation, Banking Regulation, Laws, regulations and rules, Banking law, Foreign banks, Foreign business enterprises

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