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China to levy reserve requirements from overseas financial institutions

Xinhua, January 18, 2016 Adjust font size:

China's central bank decided to normally collect the reserve requirements on deposits placed by overseas financial institutions at their branches in the country from Jan. 25, according to a statement released by the People's Bank of China on Monday.

The overseas financial institutions do not include central banks and other similar agencies such as official reserve managements, international financial organizations, and sovereign wealth funds. Endi