Measures for the implementation of the administrative licensing of foreign banks revised and issued by the CIRC

category:Finance
 Measures for the implementation of the administrative licensing of foreign banks revised and issued by the CIRC


Measures to further strengthen prudential supervision. According to the principle of consistency between China and foreign countries, in the relevant licensing chapters of the measures, the requirements for equity management and anti money laundering and anti terrorist financing review are correspondingly increased, prudential supervision is further strengthened, and the connotation of shareholder change is revised. At the same time, the measures make it clear that if the State Council has other provisions on administrative licensing matters in the pilot free trade zone and other specific areas, it shall follow them and reserve policy space for further streamlining administration and decentralization measures in the above areas. The CBRC said that the revised measures will further promote higher level of opening up, and promote the participation of foreign banks in promoting high-quality social and economic development. The CBRC will adhere to both opening-up and prudential supervision, effectively prevent financial risks, and promote the healthy and stable development of the banking industry. Source: editor in charge of Xinhuanet: Liu Songpeng nbj9949

Measures to further strengthen prudential supervision. According to the principle of consistency between China and foreign countries, in the relevant licensing chapters of the measures, the requirements for equity management and anti money laundering and anti terrorist financing review are correspondingly increased, prudential supervision is further strengthened, and the connotation of shareholder change is revised. At the same time, the measures make it clear that if the State Council has other provisions on administrative licensing matters in the pilot free trade zone and other specific areas, it shall follow them and reserve policy space for further streamlining administration and decentralization measures in the above areas.

The CBRC said that the revised measures will further promote higher level of opening up, and promote the participation of foreign banks in promoting high-quality social and economic development. The CBRC will adhere to both opening-up and prudential supervision, effectively prevent financial risks, and promote the healthy and stable development of the banking industry.