The Chinese government has been fulfilling its WTO commitments strictly on time or even ahead of schedule in terms of opening up the financial sector.
In December 2005, five more cities, namely Harbin, Changchun, Lanzhou, Yinchuan and Nanning, were opened ahead of schedule to foreign financial institutions for local currency business, bringing the total number of cities allowed for RMB business from 18 up to 25.