People's Bank Of China Starts Forex Operation In Singapore
BANKS
China's central bank has given a vote of confidence to Singapore as a foreign exchange dealing center by establishing a trading operation in the city. Among the top Chinese bankers now based at offices on the 28th level of UOB Plaza, next to Raffles Place, is the People's Bank of China head of foreign exchange Zhu Wen Xiang.
The Chinese central bank has established a Singapore company as its vehicle to deal in the money markets. Formed at the end of 1982 as a wholly-owned subsidiary of the People
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