The Tentative Re-launch of Offshore Banking Services

Zhonglun Law FirmIn July, the People's Bank of China (PBOC) allowed four of China's commercial banks (the Bank of Communications, China Merchants Bank,…

5 minute read November 30, 2002 at 11:58 PM

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Zhonglun Law Firm

In July, the People's Bank of China (PBOC) allowed four of China's commercial banks (the Bank of Communications, China Merchants Bank, Pudong Development Bank and Shenzhen Development Bank) to resume their Offshore Banking Service (OBS) businesses after a three-year suspension.

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