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The central bank's recent lifting of restrictions on offshore banking or foreign currency loans for local banks has drawn a curtain on the monopoly foreign banks enjoyed earlier in case of such banking outside the country's export processing zones ( officials in the Export Processing Zone Administration ( On 27th April 2000, Chinese government officially approved and set up the export processing zones monitored by the customers with the purposes of propelling the development of the processing trade in China and encouraging the expansion of the foreign exports. |
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