CRI Home - Photo- Forums - Talk China - Surf China - About China -  
  Webcast | CRI Today | China | World | Biz | SciTech | Sports | Life | Showbiz | Easy FM | Learn Chinese / English | Weather | Events
 
 
 
 
PBOC to Open 2nd HQ in Shanghai
2005-8-9 17:01:15      Xinhua
SHANGHAI - People's Bank of China, or the central bank, is to open its second headquarters in Shanghai, the country's financial hub in east China, on Wednesday, said an informed source here Tuesday.

Senior officials of Shanghai's banking watchdog and some leading financial institutions have been invited to attend Wednesday's launching function.

The source said the second BOC headquarters is an institution at the vice-ministerial level. And Xiang Junbo, vice governor of the central bank, will take charge of the Shanghai headquarters, and some central bank's departments, whose businesses are closely related to the market, will move to the Shanghai headquarters.

The Shanghai Branch of the central bank will remain, and the new headquarters is separate from it, according to the source.

The central bank governor Zhou Xiaochuan said in March 2005 that the Shanghai branch has long been held accountable more than BOC regional branch, since a lot of leading Chinese financial institutions, such as China's foreign exchange market, interbank lending market, gold market, diamond market as well as Shanghai Stock Exchange, are located in the municipality.

For the sake of improving its management further, Zhou once acknowledged, the central bank will possibly transfer some of its nationwide businesses, such as payment and liquidation as well as a consulting system for national credit information, to Shanghai and hence set up a big business department.

(Photo source: Agencies)


        Talk China        Print        Email        Recommend
 
Related Stories:
v Bank to Set up Fund Management Firm 08-09
v Principal Financial in Talks with CCB 08-08
v BoCom Auctions 1.2 Bln Mortgage Assets 08-06
v Illegal Bank in Shanghai Busted 08-04

  Copyright of crienglish.com. All rights reserved.

Reproduction of text for non-commercial purposes is permitted provided that both the source and author are acknowledged and a notifying email is sent to us.
 
 

 
postalChina Post is progressing with its scheme to merge its two sub-businesses.
textilePeter Mandelson said he would hold talks with Bo Xilai this week.
YahooChinese e-commerce operator Alibaba.com is in the late stages of talks to sell a 35 percent stake to Yahoo Inc.
BOC IPO Could Take Place in 2005
China, Hong Kong, Japan, and Aussie Market Roundup 
CNOOC's Market Value Up By $7b
Producer Price Index Rises
Lenovo Profit Up 6% After IBM PC Buy
Power Supply Sees Robust Growth
HK Urges Manufacturers to Go "Green"
Major HK Banks's Interest Rate Hike
China Mobile First-Half Profit Rises