Postal bank launch held up by control issue

CHINA - Expectations of the kick-off of the much-heralded Postal Savings Bank are premature, both the People's Bank of China (PBOC) and the State Postal Bureau reveal.

"There is still no exact timetable for the launch of the Postal Savings Bank," said an official with the PBOC, China's central bank.

The official, who declined to be identified, said the central bank had not given a final go-ahead for the launch, "and we do not think the bank could be debuted in the near future."

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