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Article: CHINESE BANKS APPROVED TO OFFER OFFSHORE BANKING SERVICES.
- Article from:
- AsiaPulse News
- Article date:
- July 26, 2002
CopyrightCOPYRIGHT 2002 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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BEIJING, July 26 Asia Pulse - The Bank of Communications, Shanghai Pudong Development Bank, China Merchants Bank and Shenzhen Development Bank have been approved to offer offshore banking services in Shanghai and Shenzhen.
The offshore business of the four banks will mainly include: foreign exchange deposits, foreign exchange loans, international settlement, interbank borrowing and lending, foreign exchange guarantee, foreign exchange trading, consulting and other business approved by the People's Bank of China. This is the first time for ...