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ANNOUNCEMENT OF OPENING RMB BUSINESS IN GUANGZHOU, ZHUHAI, QINGDAO, NANJING AND WUHAN TO FOREIGN FINANCIAL INSTITUTIONS |
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(Proclamation of the People's Bank of China (No.26 [2002]) promulgated on November 6, 2002, which shall come into force as of December 1, 2002) |
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SUBJECT : FOREIGN-FUNDED FINANCIAL INSTITUTIONS; OPENING RMB BUSINESS; GUANGZHOU, ZHUHAI, QINGDAO, NANJING AND WUHAN |
ISSUING DEPARTMENT : PEOPLE'S BANK OF CHINA |
ISSUE DATE : 11/06/2002 |
IMPLEMENT DATE : 12/01/2002 |
LENGTH : 91 words |
TEXT : |
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From December 1, 2002, foreign-funded enterprises established in Guangzhou, Zhuhai, Qingdao, Nanjing and Wuhan may apply for operating RMB business with the People's Bank of China in accordance with the relevant provisions of the Regulations of the People's Republic of China on the Administration of Foreign-funded Financial Institutions (Order No.340 of the State Council of the People's Republic of China) and the Detailed Rules for Implementation of the Regulations of the People's Republic of China on the Administration of Foreign-funded Financial Institutions (Order No.1 [2002] of the People's Republic of China).
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