Date
20 August 2017

Simplified procedures set for opening bank branches, Xinhua says

The China Banking Regulatory Commission has simplified approval procedures for banks applying to set up community and micro branches, the official Xinhua news agency reported Thursday, citing a notice issued by the regulator. Bank branches are required to apply for a license in order to operate, and must inform the public of important information such as staff, business hours, fee standards and channels for customer complaints, according to the commission. They are not allowed to outsource businesses, the report said.

– Contact HKEJ [email protected]

TL/AC/CG

 

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