No more permits required for opening bank accounts from 2020: PBOC

The development, aimed at cutting red tapism, is aimed at streamlining and boosting the local economy.

On Tuesday, China’s central bank, The People’s Bank of China, stated it will do away with issuing permits for opening bank accounts by companies by the end of this year.

The move is in line with state council’s directive to reduce administrative red tapism.

Advertisements


Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: