China to lift foreign banks' forex restrictions

CHINA - China will lift restrictions on foreign-exchange business conducted by foreign banks operating in the country, China's central bank announced via state television Sunday.

Effective 11 December, the formal date of China's accession to the World Trade Organization, foreign banks with branches in China will be able to provide foreign-exchange services to all individuals and institutions, the report said.

Restrictions on the local-currency business of foreign banks operating in the country