PBOC Announces New Steps In Applying For FX Licences
REGULATORS
The People's Bank of China (PBOC) has announced new steps that must be taken by foreign and domestic banks and financial institutions when applying for foreign exchange licences in China from July 1, says an official notice. While one of the rule changes imposes a public disclosure step, a perhaps more important change makes it easier for domestic banks to apply for foreign exchange licences, sources say.
"A notice from the PBOC has informed our bank, as well as other foreign banks and financial
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