IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 13 Feb 2018 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

In February 2018, the Chinese Banking Regulatory Commission (CBRC) announced it was implementing policy changes that bring the process for foreign-controlled banks' investments in Chinese banks more in line with domestic policy.

The new policy supersedes one from 2014. The changes are as follows:

  • Foreign-invested banks can now directly invest in domestic banks (i.e. setting up or acquiring equity interest therein);
  • CBRC licence no longer required for:
    • Overseas wealth management business on behalf of clients;
    • Overseas wealth management custody business on behalf of clients;
    • Securities investment fund custodian business;
    • Cases where liquidated foreign-invested bank branches withdraw their interest-bearing assets from China.
  • Licensing changes:
    • No more pre-approval required for starting the process of setting up bank sub-branches in the PRC;
    • Transfer of senior executives between branches no longer requires pre-approval, only notification.

AFFECTED COUNTRIES

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