China to release bank charge regulation soon
Source: Xinhua |
May 10, 2012, Thursday
|
Print Edition
Print Edition
A new rule regulating service charges of Chinese commercial banks is expected to come into effect soon, an official of the China Banking Regulatory Commission said yesterday.
The government is working on sorting out the charging items under each service category, and the work will be finished this week, said Yin Long, an official in charge of supervision on business innovation.
Afterwards, the government will do some internal surveys to further improve the rule, and then publish the rule together with government pricing guidelines compiled by the price regulator, Yin said.
From February to March, the public were invited to give feedback on the draft of the rule which is expected to limit the amount commercial banks can charge for their services.
Opaque and extra charging has been a major source of public complaints in the country's banking sector in recent years.
The government is working on sorting out the charging items under each service category, and the work will be finished this week, said Yin Long, an official in charge of supervision on business innovation.
Afterwards, the government will do some internal surveys to further improve the rule, and then publish the rule together with government pricing guidelines compiled by the price regulator, Yin said.
From February to March, the public were invited to give feedback on the draft of the rule which is expected to limit the amount commercial banks can charge for their services.
Opaque and extra charging has been a major source of public complaints in the country's banking sector in recent years.
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