| China's banking regulator is in the process of revising the bank service pricing regulation with an eye on providing bank customers better services.
A draft of the revised regulation has been sent to China's commercial banks and local price monitoring offices, said the China Banking Regulatory Commission (CBRC).
The revision was introduced to prevent banks from raising fees for any banking service at will. Last month, several Chinese commercial banks, such as China's largest lender, the Industrial and Commercial Bank of China, raised their cross-bank same-city automatic teller machine (ATM) withdrawal fees, which invited wide opposition among bankcard holders.
Any changes in service pricing should be announced five months before its implementation, and if customers object, the bank should stop the change, being it overtly or in a disguised form, said the draft.
The draft of the new regulation will be open for public discussion after commercial banks submit their feedback, said the CBRC. | 
