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ABC Launches Individual Forex Transactions
The Agricultural Bank of China recently opened its first business for individual foreign exchange transactions in Shanghai.
So far, four banks in China have been approved to deal with individual foreign exchange transactions: Bank of China, Industrial & Commercial Bank of China, Bank of Communications, and Agricultural Bank of China.
Telephones and computer networks are in wide use in the 24-hour business, which deals with 45 kinds of foreign currencies.
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