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Posts: 11559
Jan 27 14 5:21 AM
Market Pulse Archives
Jan. 26, 2014, 9:08 p.m. EST
LOS ANGELES (MarketWatch) -- While banks in China have suspended some interbank transfers and other systems for several days, the move only covers some Internet transfers and those for small amounts, according to a statement on the People's Bank of China website. Meanwhile, state-run Beijing Times said customers can still conduct small-scale transfers via ATMs. On Sunday, Forbes contributor Gordon Chang, author of "The Coming Collapse of China," said that Citibank had halted bank transfers for three days, calling the move "ominous" for the Chinese banking system. However, the central bank had flagged the move earlier this month, saying the move was due to system maintenance and would occur once a month for the rest of the year.
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