Zhou: China to reconsider financial service limits

Central Banking staff
15 Jun 2006

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People's Bank of China governor Zhou Xiaochuan told a banking conference in Beijing that China needs to reconsider regulations limiting the range of services banks and other financial institutions can offer.

Zhou told the conference that the legislature had to "take into account the new requirements" of a market economy to allow more room for universal banking services.

He noted that the requirement for commercial banks to set up asset management companies in order to divest bad assets may also

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