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The People's Bank of China said in an online statement that it will further strengthen these banks' daily financial risk monitoring, their soundness appraisals and their reporting upon financial emergencies, in an effort to prevent systematic and regional financial risks.

BEIJING, April 30 (Xinhua) -- Foreign insurance companies will be able to undertake the business of China's compulsory traffic accident liability insurance as of Tuesday, according to an amended regulation released Monday.

A devastating quake hit Sichuan and neighboring Gansu and Shaanxi provinces in May 2008, leaving more than 80,000 people dead or missing and millions of houses destroyed.

"Such changes have posed challenges for the traditional Chinese way of transplanting organs," Huang said.

Applicants must have obtained doctorates from overseas universities and meet other requirements verifying their leading credentials in their fields.