China opens Canton to foreign banks.

HONG KONG - The People's Bank of China has decided to let six foreign banks set up branches in Canton, capital of the booming southern Guangdong province, the Beijing-controlled China News Service said.

Foreign banks are currently allowed to open branches only in special economic zones in the south and along the coast and in the eastern port city of Shanghai.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER