中国银行业全面对外开放

In more economic news from China, the Chinese government is opening up local business to foreign banks. As one of the conditions for China joining the World Trade Organization five years ago, the country is allowing foreign banks to incorporate¹ in China and to handle retail² business using Chinese currency. (Before last week, these banks could only handle foreign currency when doing business in China, and only in 20 major cities.) The eight banks that have applied³ for one of the new retail licenses⁴ include banks from Japan, Britain, Singapore, the US, and the Netherlands. Many had been buying interests in local Chinese banks to prepare for this development, because they saw big financial opportunities in China's growing economy.

1 incorporate   

vt.包含，加上，吸收；把…合并，使并入

参考例句：

• Paints incorporate with oil.颜料与油混合在一起。
• We had to incorporate the company for tax reasons.由于纳税的原因，我们不得不把那家公司合并了。

2 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

3 applied   

adj.应用的；v.应用，适用

参考例句：

• She plans to take a course in applied linguistics.她打算学习应用语言学课程。
• This cream is best applied to the face at night.这种乳霜最好晚上擦脸用。

4 licenses   

n.执照( license的名词复数 )v.批准，许可，颁发执照( license的第三人称单数 )

参考例句：

• Drivers have ten days' grace to renew their licenses. 驾驶员更换执照有10天的宽限期。 来自《现代汉英综合大词典》
• Jewish firms couldn't get import or export licenses or raw materials. 犹太人的企业得不到进出口许可证或原料。 来自辞典例句