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What type of Treasury Management business operations needs the approval of the People Bank of China?

April 26, 2017Approval Bank Business China Management Needs operations people Treasury type

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What type of Treasury Management business operations needs the approval of the People Bank of China?

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Generally, any Chinese entities, including foreign invested enterprises (“FIEs”) or establishments of foreign enterprises, specially engaged in loaning and financing business should obtain the approval from the People’s Bank of China, which is the central bank of China. Foreign companies or FIEs, require additional approval by the Ministry of Foreign Trade and Economic Cooperation (“MOFTEC”) .