February 12, 2019 / 3:42 AM / 12 days ago

China will abolish permits for opening bank accounts by companies by end-2019

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China’s central bank said on Tuesday it will abolish permits for opening bank accounts by companies by the end of 2019, in line with a state council directive to reduce administrative red tape.

Reporting by Beijing Monitoring Desk; Editing by Paul Tait

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