News Rules Govern Foreign Debts of Foreign-invested Banks

July 02, 2004 | BY

clpstaff &clp articles

By Jonathan [email protected] State Development and Reform Commission (SDRC), the People's Bank of China and the China Banking Regulatory…

By Jonathan Pan

[email protected]

The State Development and Reform Commission (SDRC), the People's Bank of China and the China Banking Regulatory Commission (CBRC) jointly promulgated the Foreign Debt Administration of Foreign-invested Banks in China Procedures (the Procedures) on May 27 2004, and the Procedures took effect on June 26 2004. Shortly after the promulgation of the Procedures, the authorities issued the Issues Relevant to Implementation of the Procedures Notice (the Notice) to clarify issues that may come up in practice.

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