China’s c-bank puts on hold Forex operations of some foreign banks LeapRate

December 30, 2015 BY Maria Nikolova

China's c-bank puts on hold Forex operations of some foreign banks

The People's Bank of China (PBOC) has issued suspension notices to at least three foreign banks regarding their Forex businesses, in a move underlining the stringent controls of the financial sector in China. According to a Reuters report, citing anonymous sources with knowledge of the matter, China's central bank has suspended the banks from conducting…

November 20, 2015 BY Maria Nikolova

China cracks down on underground bank responsible for $64B of illicit FX transactions

Police in east China's Zhejiang Province have broken the country's largest underground bank, which has carried out illegal Forex transactions of RMB 410 billion (US$64 billion), according to a report by Xinhua news agency, referring to sources at the Ministry of Public Security. The crackdown comes as a part of an investigation that started in September…

October 21, 2014 BY Andrew Saks-McLeod

China taking on the West as prominent FX industry executive Thomas Molloy becomes VP of Chinese bank

China's state-owned and tightly controlled financial sector is showing further signs of courting the west as ex- FX Solutions Head of Dealing becomes Vice President of the Industrial and Commercial Bank of China in New York

Tag: forex in china