PBOC eases financing procedures for businesses nationwide

After waiting for two hours in a bank, Wang Houqiang, the manager of a high-tech startup in Fuzhou, Fujian province, successfully opened a bank account for the newly established company much faster than he thought.

Wang is a manager of the financial department of Fujian Biqu Internet Technology Ltd. The company recently developed a mobile app that provides information and tours to the Philippines for Chinese divers.

"I thought it might take at least six days to open the bank account. But this time, the streamlined and fast procedure surprised me," said Wang, whose company wanted to start the business as soon as the bank account was opened.