China’s top banking regulator has not set a time line for the removal of the one-year waiting requirement that applies to foreign banks which have yet to set up an in-country subsidiary. Photo: AFP

No more waiting, as CBRC pledges to remove barriers on foreign banks seeking yuan business

China’s top banking regulator said on Wednesday it will remove the one-year waiting period on foreign banks seeking an in-country license for yuan trading

Topic |   Private banking

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China’s top banking regulator has not set a time line for the removal of the one-year waiting requirement that applies to foreign banks which have yet to set up an in-country subsidiary. Photo: AFP
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