China's entry into the WTO is expected to create opportunities for foreign banks. As a milestone move to honor its WTO commitments, China released the "Rules for Implementing the Regulations Governing Foreign Financial Institutions in the People’s Republic of China" in January 2002. The rules provide detailed regulations for implementing the administration of the establishment, registration, scope of business, qualification, supervision, dissolution and liquidation of foreign financial institutions. They also stipulate that foreign bank branches conducting full aspects of foreign-currency business and full aspects of RMB business to all categories of clients are required to have operating capital of at least 600 million RMB (US$72.3 million), of which at least 400 million RMB (US$48.2 million) must be held in RMB and at least 200 million RMB (US$24.1 million) in freely convertible currency.