The Ministry of Finance is undertaking the modification of the Banking Act, which is deemed impracticable owing to changes in conditions, says the "Peking Leader." According to the modified Act a bank, including any kind of shop undertaking deposits and transfers and other banking transactions, shall have at least a capital of $200,000. half of which shall be fully subscribed before business can be commenced. Each bank is to make a detailed report of the condition of its business half yearly to the Government and the bank may be ordered to suspend business by the Government if its financial condition is found to be unsafe or if it violates the laws and regulations.
Text read from the printed page and cleaned; old type leaves the occasional error.