| CBD Administration Committee Concerns About Development of Foreign-capital Banks |
| 12/12/2006 1:1:0 CBD Administration Committee |
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Toward the end of WTO protection period, China¡¯s finance industry will comprehensively open to the outside world to implement promises made to WTO. And on November 15th, the State Council promulgated the newly-revised Regulations on Administration of Foreign-capital Banks in PRC. In accordance with district leaders¡¯ directions, CBD Administration Committee in the light of new situations and conditions of foreign-capital banks¡¯ development actively visited their branches and relevant financial institutions, communicated with departments concerned such as China Banking Regulatory Commission Beijing Bureau, State-owned Assets Supervision & Administration Commission, and Development & Reform Commission etc., and analyzed dynamics of foreign-capital banks after promulgation of the Regulations as well as brought forward corresponding suggestions.
On December 11th, Cheng Lianyuan, Chief Executive of District met presidents of Hang Seng Bank Beijing Branch, Bangkok Bank Beijing Branch, Calyon Corporate and Investment Bank Beijing Branch and ABN Amro Bank N.V. Beijing Branch, and exchanged views about turning foreign-capital banks into independent legal entities with them.
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