China increases flexibility for banks dealing with foreign exchange

By Yi Yi Wu and Wendy Liu

The People’s Bank of China (PBOC) released the Administrative Measures for the Foreign Exchange Purchase and Sale Business Provided by Banks on 22 June 2014, which will come into force on 1 August 2014. The measures will clarify the definition of business and adjust the supervision and management model to provide banks with greater autonomy and a simplified process to market entry and exit.

The measures will repeal the Interim Administrative Measures for Foreign Exchange Purchase and Sale Business of Designated Foreign Exchange Banks and the Notice of the People’s Bank of China on the Administration of Foreign Exchange Purchase and Sale Business.

The measures define business by dividing it into ‘spot foreign exchange purchase and sale business’ and ‘Renminbi and foreign exchange derivative business’, for which separate management standards apply…

Click on the link below to read the rest of the Minter Ellison briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.


Level 40, Governor Macquarie Tower
1 Farrer Place

Jurisdiction: Australia
No. of offices: 14
No. of qualified lawyers: 1085