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Thread: More and more foreign banks have entered China's finiancial market, is it a piece of good news ?
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[quote=BBQQ,228242]Nowadays, more and more foreign banks have entered China, is it a piece of good news for domestic customers or for foreign travelers? Dec.2, 2003, for the first time ever, China is allowing eligible foreign banks to provide RMB services to domestic enterprises. In many cities of China’s mainland including Shanghai, Shenzhen, Tianjin, Dalian, Guangzhou, Zhuhai, Qingdao, Nanjing, Wuhan, Jinan, Fuzhou, Chengdu and Chongqing, foreign banks are permitted to conduct local currency services. Undoubtedly, Chinese local residents will benefit the convenience that have brought by this new policy because now they have more choices than before and can receive better service in foreign banks. But I think foreign travelers in China will also benefit a lot, since more banks are available to convert money besides Bank of China, right? [/quote]
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