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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2725)	3/8/2004 7:56:50 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China cracks down on foreign currency exchanges China's State Administration of Foreign Exchange, working against money laundering, said Monday it will launch a computer system to collect information on exchanges of foreign currencies in large amounts. According to the Xinhua news agency, the administration is also promising more detailed rules on what sorts of currency exchanges are allowed. More than 300 people were arrested for questioning in China last year concerning their alleged operation of underground money houses. The regulatory body says it is checking out literally millions of foreign currency exchanges where red flags have been raised by the size of the transactions or other factors. It says the money involved is equal to just under $50 million. © 2004 American City Business Journals Inc. pacific.bizjournals.com