China's central bank and top banking regulatory agency are about to review the 25-year-old regulations related to commercial acceptance bills. The comments on the revised measures, intially issued in 1997, covering commercial acceptance bills have been sent by 14th Feb, so a new regulation is expected soon. The revisions are expected to have a dramatic impact on commercial banks, financial companies and commercial acceptance bill issuers and intermediaries.
In the past, after their involvement in fraudulent financing plus other violations and the very quick growth in use of this instruments, the regulation and supervision of commercial bills have been tightened.
