to meet the needs of the increasing number of foreign-funded financial organizations , the state council promulgated the `` regulations for management over foreign-funded banks and sino-foreign- funded banks in the sez 's '' on 2 april 1985 , and the people 's bank of china promulgated the `` regulations for management over foreign-funded and sino-foreign-funded financial organizations in shanghai `` on 8 september 1990 .