Account opening norms eased

Chinese enterprises will not need regulatory approval for opening primary and temporary bank accounts from the end of this year onward, the People's Bank of China said on Wednesday.

The move is in line with the country's continuous efforts to support small businesses and streamline administration, the central bank said.

"We will promote this reform in different regions in batches, and strive to remove the approval system throughout the country within 2019," said Fan Yifei, deputy governor of the PBOC, at a news conference on Wednesday.