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.
In the areas of securities and insurance business, the Chinese government has almost fulfilled all commitments concerning market access and business scope except that the Sino-foreign joint equity brokers are not allowed to provide underwriting services for issuance of A shares.