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Article: CHINA CENTRAL BANK OPENS SECOND HQ IN SHANGHAI.
- Article from:
- AsiaPulse News
- Article date:
- August 11, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SHANGHAI, Aug. 11 Asia Pulse - The People's Bank of China, or the central bank, inaugurated its second headquarters in Shanghai, the country's financial hub, on Wednesday.
Zhou Xiaochuan, governor of the central bank, said the Shanghai headquarters was designed to improve the central bank's capability to regulate the country's financial market and provide better service.
"Under the current situation, the central bank's existing structure can not meet the need" of the country's economic development, he said.
The second central bank headquarters is an institution at the vice-ministerial level. Vice Governor Xiang Junbo will be in charge of it.
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