Foreign Exchange News
- Six new yuan market makers named
Date: 8-Dec-2006 Sources: (Shenzhen Daily)
THE government has named the Shanghai branches of Deutsche Bank and Japanese bank Sumitomo Mitsui, along with four mainland banks, as new market makers for the yuan spot market, the foreign exchange regulator said Thursday.
The four domestic banks are China Everbright Bank, China Minsheng Banking Corp., Huaxia Bank and China Development Bank, the State Administration of Foreign Exchange said on its Web site. The six banks would start acting as market makers from Dec. 18, the agency said. The addition of the six brings the total number of market makers in the domestic yuan spot market to 21.
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