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September 27, 2013

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Cross-bank transfers stopped during holiday

Commercial banks will halt cross-bank fund transfers during the National Day holiday as the People’s Bank of China is revamping its network.

From September 30 to October 7, the central bank will not accept or process any interbank transfer requests for the commercial banks. Any transactions requested by organizations and individuals through banking outlets and the Internet will not be processed until October 8, the PBOC said. Transfers made through ATMs, UnionPay and AliPay will not be affected. 



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