China adopts new regulations for overseas banks

cctv.com 03-08-2004 14:38

China's banking regulator Monday released new rules to adjust and standardize the regulation on the consolidated financial statement for overseas banks. The new structure will enable better risk management, and also provide a better picture of the overall performance of these banks in China.

An increasing number of overseas banks have entered the domestic market as China continues to honor its World Trade Organization commitments. To get a more accurate and comprehensive assessment of the performance of these banks, the China Banking Regulatory Commission has set up a special team to work out a practical structure that is suitable for the prevailing situation here in China. The new regulations take into consideration current practices in the US and Hong Kong.

Editor:Zhang  Source:CCTV.com