Quick review: June 19-25
(China Daily)
Updated: 2006-06-26 07:02
African partnerships
China's energy partnerships with Africa are based on equality and mutual
benefit, and will not influence any other party, Premier Wen Jiabao said last
Tuesday.
During talks with Angolan President Jose Eduardo dos Santos, Wen said China
is ready to work with Angola and other African countries in the energy sector.
"This is only one part of co-operation between China and Africa in a wide
range of fields," Wen said.
Administrative revisions
China's banking regulator is likely to soon complete revisions on an
administrative rule that would allow foreign banks to deal with the renminbi
retail business across the country.
The draft rule will require further approval from the State Council, a source
said last week, on condition of anonymity.
Foreign banks will be encouraged to register corporations in China, instead
of setting up branches to deal with the renminbi business. This will protect the
interests of domestic depositors, according to the revised rule. The minimum
registered capital of a foreign banking corporation is said to be around US$125
million.
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