PBOC to regulate online banking in China

CHINA - Banks opening online-banking services for the first time need to have their headquarters file an application with the People's Bank of China (PBOC), its branches or business-management departments, according to interim measures regulating online banks.

The central bank issued a notice urging the implementation of the measures on 22 April.

The move comes at a time when the PBOC has reaffirmed that it will keep banking and regulatory responsibilities separate.

For banks that have obtained

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