Approved foreign exchange business in December 2011
PRESS RELEASE Release Date: January , 2012
Approved foreign exchange business in December 2011
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. EnTie Commercial Bank to conduct FCY Commodity Swaps by notifying the CBC after the commencement of business.
2. 140 branches of 16 banking enterprises to operate foreign exchange business. As of the end of December 2011, there were 2,342 authorized foreign exchange banks, including 2,270 domestic banks and 72 foreign banks.