People's bank to open office in Frankfurt

CHINA - The People's Bank of China (PBOC), the central bank, plans to open a representative office in Frankfurt home of the European Central Bank (ECB) is headquartered, PBOC's press office announced.

Interfax report that the new office will become PBOC's fourth office outside China, following its offices in New York, Tokyo and London. The plan was announced by China's central bank governor Dai Xianglong on Monday in Beijing after meeting ECB President Wim Duisenberg in Beijing.

The new office