ANNOUNCED AS TEMPORARYNo
FDI: Treatment and operations, nes
In September 2014, the China Banking Regulatory Commission (CBRC) released an update to the regulations surrounding foreign-controlled banks' investment activities within the PRC.
The measure replaces a previous set of rules from 2006.
The key changes are as follows:
1. The following administrative licensing items which the State Council requested removal of have been confirmed:
2. Licensing procedures have been simplified. e.g. small amendments to firms' articles of association may now be conducted without prior approval by the CBRC.
3. Expanded coverage of measures. e.g. provision of RMB services to Chinese nationals by a foreign-funded bank incorporated with legal person status.
4. Some regulations have been more concretely stipulated, e.g. now included in the regulations are a set of negative criteria that would prevent persons from being appointed to director/senior management positions in a foreign-funded bank.
5. Several market access standards brought closer in line with that for Chinese banks:
⚑ Please report this page in case you detect an inaccuracy in its content.