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COPYRIGHT 2002 Asia Pulse Pty Ltd
An executive briefing on banking for June 28, 2002, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
CHINA'S EXIMBANK ISSUES US$1.2 BLN IN FINANCIAL BONDS
BEIJING - The China Export and Import Bank (Eximbank) has successfully issued two-year financial bonds worth 10 billion yuan (US$1.2 billion) through public price bidding, with their price fixed at 96.24 yuan.
A spokesman for the Eximbank yesterday said 49 underwriters participated in the bidding, with valid bids reaching 22.68 billion yuan, 2.3 times more than the value of those being issued.
VIETNAM CENTRAL BANK PROMOTES NON-CASH PAYMENTS
HANOI - The State Bank of Vietnam is desperate to break the stranglehold cash has on economic transactions, and is spending US$13 million to prove it.
The central bank is heading up a World Bank-funded project to bolster inter-bank payments, a tool it hopes will satisfy the growing demand for electronic transactions.
CHINA ISSUES NEW PROCEDURES FOR FOREIGN FINANCIAL INSTITUTIONS
BEIJING - The People's Bank of China (PBOC) yesterday announced procedures for administering representative offices of overseas financial institutions.
A spokesman for the PBOC said that the new procedures have been designed to cater to the demands arising from China's opening to the outside world and its economic development, and to step up the administration of representative...
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