China intensifying supervision of foreign banks

People's Bank of China, China's central bank, is stepping up the regulation of foreign-invested banks management. The move comes because foreign banks are to expand in the number, operating scope, business category and assets of their branches in China after the country's entry into the World Trade Organisation.

People's Bank of China has been supervising and controlling foreign banks with more than two branches each in China from the beginning of the year 2000. Shanghai has implemented sup