Home China Headline Foreign exchange firm opens

Foreign exchange firm opens

China's first foreign exchange company has opened in Shanghai as the country loosens restrictions on currency trading. Easy Exchange is owned by Shanghai Lujiazui Development (Group) Co and it has set up three outlets in the city with six more to follow at an unspecified date, an unnamed company official said. One outlet is in Lujiazui, another at Shanghai Pudong International Airport and the other on Yuanshen Road in Pudong New Area will all act as agents for banks with the exchange rates set by lenders. The Lujiazui Easy Exchange is affiliated with the Bank of China. There is no transaction commission. The outlets exchange nine foreign currencies, including the United States dollar, British pound, Japanese yen, and Hong Kong dollar, into yuan. Transactions are limited to US$5,000 or the equivalent in another currency. Identification documents - such as an ID card for Chinese and a passport for expats - are needed for the exchange. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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