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PBOC measures fill renminbi pipeline

By Mao Lijun (China Daily)
Updated: 2008-07-04 14:38

The operations office of the People's Bank of China has made a range of moves to facilitate payment and currency exchange for the upcoming Olympic Games.

Among the measures now in place are:

Access for the disabled at small or medium sized merchants.

Greater numbers of businesses accepting foreign credit cards.

Directed commercial banks open branches near the Olympics and required hotels, restaurants and other currency exchange sites to provide better exchange services.

Allowed international currency exchange operations such as Travelex to open outlets at the Capital International Airport in Beijing.

Simplified foreign currency exchange services, including the opening of special Olympics accounts.

Assigned experienced staff to their media office for Olympic services.

Improved the overall quality of currency in circulation by releasing new notes.

Minted more coins for use in subways and shopping malls.

Provided sufficient cash reserves for the Olympic period and asked banks to improve their cash service.

Held training sessions on how to distinguish counterfeits in 17 types of currencies.

Held tests on how to cope with emergencies including problems with points of sale transactions.

Strengthened coordination with police to fight illegal use of credit cards, printing or using counterfeit currencies and illegal foreign exchange transactions.