China Banking and Insurance.............>

CHINA PRESS: China Banking and Insurance Regulatory Commission is amending an

interim rule regulating foreign ownership in Chinese commercial banks, Chen

Wenhui, deputy chairman of the commission, said this weekend, according to China

Securities Journal on Monday. 

  - The commission is also creating detailed rules on financial asset investment

companies and insurance agents, Chen said. 

  - Chen highlighted rules affecting key aspects of China's banking and

insurance sectors: reducing restrictions on foreign investment and on the

establishment of foreign financial institutions in China; expanding business

operations of foreign banks; and improving regulations on foreign banks and

investment. 

  - Chen stressed risk controls and the gradual opening up of China's economy

and financial sector.