New Capital Rules Bring China's Banking Regulation up to Global Standards
March 31, 2004 | BY
clpstaff &clp articlesAn important step forward, China modernizes its commercial banks by ensuring a sound financial position through the newly issued measurable capital adequacy standards.
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By Michael G. DeSombre and Weiheng Chen, Sullivan & Cromwell LLP, Hong Kong
On February 23 2004, the China Banking Regulatory Commission (the CBRC) fulfilled its promise1 to modernize