The People’s Bank of China (PBC) Shanghai Head Office; all branches and operations offices of the PBC; all central sub-branches of the PBC in capital cities of provinces (autonomous regions) and the central sub-branch of the PBC in Shenzhen; China Development Bank; all policy banks, state-owned commercial banks and joint-stock commercial banks; and Postal Savings Bank of China:
The matters concerning the interest rates for deposits in RMB bank settlement accounts opened by overseas institutions in banking financial institutions within China are hereby notified as follows:
I. For the interest rates for deposits in RMB bank settlement accounts opened by overseas institutions in banking financial institutions within China, the demand deposit interest rates announced by the PBC shall apply.
II. The PBC Shanghai Head Office, all branches and operations of the PBC, all central sub-branches of the PBC in capital cities of provinces (autonomous regions) and the central sub-branch of the PBC in Shenzhen shall forward this Notice to banking financial institutions within their respective jurisdictions, and urge the implementation of this Notice.
The General Administration Department of the People’s Bank of China
November 19, 2010
