Chinese can move savings in March ???

Discussion in 'Economics' started by wabrew, Feb 11, 2007.

  1. wabrew


    Anybody know anything about this? What does it do to currency markets in March? Will it be "much ado about nothing?"

    "Chinese banks are also pushing to issue more credit cards to stave off flocks of Chinese shifting their money to foreign lenders. The state-owned China Daily newspaper conducted an online poll that showed 57% of Chinese wanted to switch their savings to foreign banks once they are able to in March. Chinese banks are continuing to reform and see credit cards as an important component of their futures if they want to compete on an international level. "