Ma Delun, Duputy Director of State Administration of Foreign Exchange (SAFE) said on July 1 that SAFE was explaining to foreign-funded banks which had much to say about the newly-issued rules on foreign debts in foreign-funded banks.

He reassured the foreign-invested banks that the rules would not hamper their expansion in China or affect the interests of their customers. Foreign-funded banks will enjoy specific, corresponding and enough room for their business expansion in China.

The rules will put the impact of short-term foreign debts in foreign banks under control and handle those which can be turned into medium and long term debts.

Ma promised that SAFE would cooperate with the State Development and Reform Commission to solve the problems that foreign banks in China came across in their operation.

The rules involve provisions on operation and short-term foreign debts check-up held by foreign-funded banks in China.

By People's Daily Online