Measures for the implementation of the administrative license of foreign-funded banks revised and issued by the CIRC

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


In the past, foreign banks could only set up one branch or subsidiary in China. The biggest change brought about by this policy is that foreign banks can undertake business, for example, foreign branches have more restrictions on opening retail business. A person from a foreign-funded bank in Shanghai once told the securities times that the previous regulatory policy orientation was to encourage foreign-funded banks to set up subsidiaries in China, which could also engage in more business areas than branches, and the corresponding threshold for subsidiary access, such as registered capital, was higher than branches. At present, most of the foreign-funded banks have set up subsidiaries in China, or the former branches have also been transformed into subsidiaries.

Second, we will continue to streamline administration and delegate power, integrate decentralization with management, and optimize the business environment. The measures further delegated or adjusted the approval authority of the qualification of some directors and senior executives of foreign-funded banks and the approval authority of the opening of branches; cancelled the approval of the qualification of the president of management type sub branches; shortened the approval time limit of the two-level approval matters; simplified the requirements of some application materials for foreign-funded banks to issue bonds abroad.

Fourth, it is clear that if the State Council has other provisions on administrative licensing matters in special areas such as the pilot Free Trade Zone, it shall follow them to reserve policy space for further streamlining administration and decentralization measures in the above areas.

The CBRC said that the revision and promulgation of the measures will further promote the higher level of opening up and promote the participation of foreign banks in promoting the high-quality development of social economy. 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.

This is another revision of policy documents in the field of supervision of foreign banks after the revision and release of the regulations of the peoples Republic of China on the administration of foreign banks and the detailed rules for the implementation of the regulations of the peoples Republic of China on the administration of foreign banks. The three major policies and regulations are the revision and improvement of the original policies in line with the opening up process of the banking industry. The head of the CIRC once said that the revision of the relevant policies is aimed at implementing the opening-up policy of the banking industry, further optimizing the investment and business environment of the banking industry, stimulating the vitality of foreign investment in the development of Chinas banking industry, and promoting the competitiveness of the banking industry and the quality and efficiency of the service entity economy. At the same time, the CBRC will, based on the national conditions, learn from the history and international experience of the opening-up of the banking industry in an all-round way, continue to improve the prudential regulation rules, strengthen the supervision during and after the event, and firmly hold the bottom line of no systemic risk. Source: responsible editor of Securities Times: Zhang Meiyu nf2100

This is another revision of policy documents in the field of supervision of foreign banks after the revision and release of the regulations of the peoples Republic of China on the administration of foreign banks and the detailed rules for the implementation of the regulations of the peoples Republic of China on the administration of foreign banks. The three major policies and regulations are the revision and improvement of the original policies in line with the opening up process of the banking industry. The head of the CIRC once said that the revision of the relevant policies is aimed at implementing the opening-up policy of the banking industry, further optimizing the investment and business environment of the banking industry, stimulating the vitality of foreign investment in the development of Chinas banking industry, and promoting the competitiveness of the banking industry and the quality and efficiency of the service entity economy. At the same time, the CBRC will, based on the national conditions, learn from the history and international experience of the opening-up of the banking industry in an all-round way, continue to improve the prudential regulation rules, strengthen the supervision during and after the event, and firmly hold the bottom line of no systemic risk.