ANNOUNCEMENT 23 Aug 2018
August 23rd, 2018 - China's Banking Regulatory commission announced that it was implementing a change in its inbound investment policy.
NUMBER OF INTERVENTIONS
China Banking Regulatory Commission, August 23rd, 2018. (银保监会发布《中国银行保险监督管理委员会关于废止和修改部分规章的决定》)
On August 23rd, 2018, the China Banking Regulatory Commission (CBRC) announced it would be rescinding clauses in several of its policies that implemented investment limits for foreign firms in the Chinese banking sector.
Previously, foreign-funded stakes in such institutions were capped at 20% for individual investment entities and 25% for groups.
The announcement completely removed these limits, explicitly stating that the intention was to implement a policy of 'equal treatment' for both foreign and Chinese firms in the banking sector.
It should be noted that, in keeping with this ideology, the announcement also stated that foreign firms will be subject to the same scrutiny as private Chinese firms: an environment where the state often has the upper hand.