http://debianws.lexgopc.com/wiki143/index.php?action=history&feed=atom&title=Financial_services_in_ChinaFinancial services in China - Revision history2026-06-02T02:40:40ZRevision history for this page on the wikiMediaWiki 1.43.1http://debianws.lexgopc.com/wiki143/index.php?title=Financial_services_in_China&diff=4894429&oldid=previmported>Ponny-woo at 06:00, 23 January 20232023-01-23T06:00:30Z<p></p>
<p><b>New page</b></p><div>{{Use dmy dates|date=June 2022}}<br />
{{short description|Overview of financial services in China}}<br />
{{More citations needed|date= May 2007}}<br />
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'''[[Financial services]] in China''' refers to the [[Service (economics)|service]]s provided in China by the finance industry: banks, [[investment bank]]s, insurance companies, credit card companies, consumer finance companies, [[government sponsored enterprise]]s, and [[brokerage firm|stock brokerages]].<br />
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==Securities trading==<br />
{{see also|Hedge fund industry in China}}<br />
The [[China Securities Regulatory Commission]] (CSRC) has required since 2004 that newly appointed CEOs, deputy CEOs, and heads of supervisory boards at locally incorporated securities firms all pass a Chinese language ability examination to take up their posts. <br />
<ref>{{cite web|last=in china|first=studying Finance in china|date= |title=studying Finance in china>|url=https://www.sicas.cn/school/108/Course_10138.shtml|url-status=live|archive-url=https://web.archive.org/web/20130525040855/http://www.sicas.cn/school/108/Course_10138.shtml|archive-date=25 May 2013|website=Sicas}}</ref> In 2007, for example, [[Goldman Sachs]] partner [[Richard Ong]] was denied permission to take the job of CEO at Beijing joint venture Goldman Sachs Gao Hua Securities Co. because of his weak Chinese language abilities.<ref name="HSK">{{citation|title=Goldman's Ong Misses China CEO Job on Language Hitch|url=https://www.bloomberg.com/apps/news?pid=20601087&sid=aFLxmEoVl4HM&refer=home|publisher=Bloomberg L.P.|last=Chan|first=Cathy|date=12 July 2007|access-date=2009-02-20}}</ref><br />
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==Electronic banking==<br />
In 1994, China started the "Golden Card Project," enabling cards issued by banks to be used all over the country through a network. The establishment of the [[China Association of Banks]] rapidly promoted the interbank card network and by the end of 2004, the inter-region-inter-bank network had reached 600 cities, including all prefecture-level cities and more than 300 economically developed county-level cities.<br />
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==International ATMs==<br />
PRC citizens may apply for an international [[ATM card]] corresponding to an [[interbank network]] such as [[Cirrus (interbank network)|Cirrus]] or [[PLUS (interbank network)|PLUS]], but foreign residents may not.{{Citation needed|date=June 2007}} Foreign residents in PRC, however, ''may'' use such interbank networks at ATMs in PRC through ATM cards procured in foreign countries.<br />
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Interbank ATMs are common throughout the country, especially in densely populated [[List of cities in China by population|urban areas]] such as [[Beijing]].<br />
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==See also==<br />
*[[China Venture Capital Association]]<br />
*[[Economy of China]]<br />
*[[History of banking in China]]<br />
*[[Chinese financial system]]<br />
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==References==<br />
{{reflist}}<br />
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==External links==<br />
*[http://www.fsi.com.cn/ Renmin University of China Finance and Securities Research Institute]<br />
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{{Economy of China}}<br />
{{Asia topic|Financial services in}}<br />
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[[Category:Financial services in China| ]]<br />
[[Category:Finance in China]]<br />
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{{china-stub}}<br />
{{finance-stub}}</div>imported>Ponny-woo