Fri, Nov 16 2007, 01:51 GMT
http://www.afxnews.com
BEIJING (XFN-ASIA) - Commercial banks in the southern Chinese city of Shenzhen have been ordered to limit cash withdrawals in a bid to cut off sources of unauthorized investment in Hong Kong stocks, the official China Securities Journal reported.
The newspaper, citing banking sources, said the local branch of the People's Bank of China imposed limits of 30,000 yuan for over-the-counter transactions by individuals and 100,000 yuan for corporate accounts.
Previously there were no restrictions on teller withdrawals, except for branch requirements to withdraw large amounts by appointment.
The 20,000 yuan daily ATM withdrawal limit was not affected, it added.
(1 usd = 7.43 yuan)
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