Capitalistas - Direcção China

By: Asia Times Online
Date: 22-03-2007

BEIJING - The China Banking Regulatory Commission (CBRC) officially
announced on Tuesday its approval for HSBC, Citibank, Standard
Chartered Bank and Bank of East Asia to establish locally registered
branches to operate in China.
The four overseas banks are allowed to start a full range of
foreign-exchange services and yuan businesses, including yuan banking
business for Chinese citizens, with the establishment of their locally
registered subsidiary banks, though they will be mainly engaged in
foreign-exchange and yuan business for companiesand institutional
clients.