China's banking regulator said on Wednesday that it will simplify administrative procedures for establishing rural commercial banks and credit cooperatives. The China Banking Regulatory Commission (CBRC) said the procedures to be scrapped, totaling 13, include approvals over appointment of senior management, banks' fund custodian services, and stock collateral loan business under new regulations. It said the new rules aim to simplify the conditions for setting up rural commercial banks and credit cooperatives as well as make it easier for all kinds of capital to take part in building the rural financial system. However, the regulator said the banks' performance, including their strategic development and company management, will be supervised after they are established. Total assets of small and medium-sized financial institutions in rural China stood at 19.45 trillion yuan (3.17 trillion U.S. dollars) as of the end of January, accounting for 13.1 percent of the banking sector's total in the country.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor