Approved foreign exchange business in October 2013
PRESS RELEASE Release Date: November 12, 2013
Approved foreign exchange business in October 2013
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. China Bills Finance Corp. to engage in trading and investment of FCY Bonds.
2. Pioneer Global Investments (Taiwan) Ltd., to act as a single master agent in offering and selling offshore funds in Taiwan.
3. Far Glory Life Insurance Co., Ltd., to conduct non-investment-linked insurance business settled in foreign currencies and foreign currency bonds by the same insurance policy.
4. 6 branches of 2 banks to operate foreign exchange business. As of the end of October 2013, there were 3,343 authorized foreign exchange banks, including 3,304 domestic banks, 3 Mainland banks and 36 foreign banks.