--File--Pedestrians walk past a branch of Citibank in Shanghai, China, 23 May 2010. The National Development and Reform Commission has raised the me
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Imaginechina Limited / Alamy Stock PhotoImage ID:
W95M70File size:
25.9 MB (1.1 MB Compressed download)Releases:
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3620 x 2499 px | 30.6 x 21.2 cm | 12.1 x 8.3 inches | 300dpiDate taken:
23 May 2010Photographer:
ImaginechinaMore information:
--File--Pedestrians walk past a branch of Citibank in Shanghai, China, 23 May 2010. The National Development and Reform Commission has raised the medium and long-term foreign debt quota for foreign banks in China to US$24 billion, allowing them to channel more money into the country to meet loan and investment demand. The NDRC, Chinas top economic planning body, made the move after Chinas foreign direct investment fell in February for the fourth straight month to US$7.73 billion, down 0.9 percent from the same period of last year. The FDI also fell from US$10 billion in January, the Ministry of Commerce said. The NDRC said raising the foreign debt quota aims to promote opening-up of the financial sector, give a bigger role to foreign banks in capital flows and push forward domestic economic development. The NDRC also announced the six participants in the pilot project for the quota increase - HSBC Holdings Plc, Deutsche Bank AG, JPMorgan, Citigroup, Sumitomo Mitsui Banking Corp and Bank of East Asia, according to a statement on its website.