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Headline: Will WTO open the door Source: Euromoney Date: September 2000 Author: Phillip Moore more on China “Ever since foreign banks were able to open representative offices we were confident that the door would open wider and wider,” says Samuel Lau, manager of HSBC’s Beijing branch office. “But we never knew when or how far the door would open. [China’s impending membership of] WTO establishes a Firm timetable which is important in terms of planning future resource allocation.” According to the broad terms of this timetable, within two years foreign banks in China will be allowed to oVer local-currency business services to corporates, while within Five years the oft-mentioned big prize of China’s market of 1.3 |
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