PRC Regulations for the Administration of Foreign-invested Banks

中华人民共和国外资银行管理条例

These Regulations signify a big step towards opening to foreign investments in the PRC's banking industry. The establishment, registration, and business scope of foreign-invested banks are clearly set out.

Clp Reference: 3610/06.11.11 Promulgated: 2006-11-11 Effective: 2006-12-11

(Promulgated by the State Council on November 11 2006 and effective as of December 11 2006.)

(国务院于二零零六年十一月十一日公布,自二零零六年十二月十一日起施行。)

Order of the State Council No.478

国务院令 第478号

PART ONE: GENERAL PROVISIONS

第一章 总则

Article 1: These Regulations have been formulated in order to satisfy the requirements of opening to foreign investment and economic development, strengthen and improve the regulation of foreign-invested banks and promote the stable operation of the banking sector.

第一条 为了适应对外开放和经济发展的需要,加强和完善对外资银行的监督管理,促进银行业的稳健运行,制定本条例。

Article 2: For the purposes of these Regulations, the term "foreign-invested bank" means any of the institutions set forth below whose establishment in the People's Republic of China has been approved pursuant to relevant laws and regulations of the People's Republic of China:

第二条 本条例所称外资银行,是指依照中华人民共和国有关法律、法规,经批准在中华人民共和国境内设立的下列机构:

(1) a wholly foreign-owned bank invested in and established solely by one foreign bank or one invested in and established by a foreign bank together with (an)other foreign financial institution(s);

(一)    1家外国银行单独出资或者1家外国银行与其他外国金融机构共同出资设立的外商独资银行;

(2) a Sino-foreign equity joint venture bank invested in and established by a foreign financial institution together with a Chinese company or enterprise;

(二)    外国金融机构与中国的公司、企业共同出资设立的中外合资银行;

(3) a foreign bank's branch; or

(三)    外国银行分行;

(4) a representative office of a foreign bank.

(四)    外国银行代表处。

The institutions specified in Items (1) to (3) above are hereinafter collectively referred to as "Foreign-invested Banking Institutions of a Business Nature".

前款第(一)项至第(三)项所列机构,以下统称外资银行营业性机构。

Article 3: For the purposes of these Regulations, the term "foreign financial institution" means a financial institution registered outside the People's Republic of China and approved or licensed by the financial regulator of the country or region where it is located.

第三条 本条例所称外国金融机构,是指在中华人民共和国境外注册并经所在国家或者地区金融监管当局批准或者许可的金融机构。

For the purposes of these Regulations, the term "foreign bank" means a commercial bank registered outside the People's Republic of China and approved or licensed by the financial regulator of the country or region where it is located.

本条例所称外国银行,是指在中华人民共和国境外注册并经所在国家或者地区金融监管当局批准或者许可的商业银行。

Article 4: Foreign-invested banks must comply with the laws and regulations of the People's Republic of China, and may not harm the national interest of the People's Republic of China or the public interest.

第四条 外资银行必须遵守中华人民共和国法律、法规,不得损害中华人民共和国的国家利益、社会公共利益。

The legitimate activities and lawful rights and interests of foreign-invested banks shall be afforded the protection of the laws of the People's Republic of China.

外资银行的正当活动和合法权益受中华人民共和国法律保护。

Article 5: The State Council's banking regulatory authority and its agencies (hereinafter collectively referred to as the "Banking Regulatory Authority") are responsible for the regulation of foreign-invested banks and their activities. If laws or administrative regulations provide that another regulatory department or authority is to regulate foreign-invested banks and their activities, such provisions shall prevail.

第五条 国务院银行业监督管理机构及其派出机构(以下统称银行业监督管理机构)负责对外资银行及其活动实施监督管理。法律、行政法规规定其他监督管理部门或者机构对外资银行及其活动实施监督管理的,依照其规定。

Article 6: The State Council's banking regulatory authority shall formulate relevant incentive and guidance measures in line with the state's regional economic development strategy and relevant policies and implement the same after the approval of the State Council.

第六条 国务院银行业监督管理机构根据国家区域经济发展战略及相关政策制定有关鼓励和引导的措施,报国务院批准后实施。

PART TWO: ESTABLISHMENT AND REGISTRATION

第二章 设立与登记

Article 7: The establishment of foreign-invested banks and their (sub-)branches shall be subject to the examination and approval of the Banking Regulatory Authorities.

第七条 设立外资银行及其分支机构,应当经银行业监督管理机构审查批准。

Article 8: The minimum registered capital of a wholly foreign-owned bank or Sino-foreign equity joint venture bank shall be Rmb1 billion or the equivalent in a freely convertible currency. The registered capital shall be paid-in capital.

第八条 外商独资银行、中外合资银行的注册资本最低限额为10亿元人民币或者等值的自由兑换货币。注册资本应当是实缴资本。

When a wholly foreign-owned bank or Sino-foreign equity joint venture bank establishes a branch in the People's Republic of China, its head office shall allocate it without consideration not less than Rmb100 million or the equivalent in a freely convertible currency as operating capital. The total of the operating capital allocated to its (sub-)branches by a wholly foreign-owned bank or Sino-foreign equity joint venture bank may not exceed 60% of the total capital of the head office.

外商独资银行、中外合资银行在中华人民共和国境内设立的分行,应当由其总行无偿拨给不少于1亿元人民币或者等值的自由兑换货币的营运资金。外商独资银行、中外合资银行拨给各分支机构营运资金的总和,不得超过总行资本金总额的60%。

The head office of a foreign bank's branch shall allocate it without consideration not less than Rmb200 million or the equivalent in a freely convertible currency as operating capital.

外国银行分行应当由其总行无偿拨给不少于2亿元人民币或者等值的自由兑换货币的营运资金。

The State Council's banking regulatory authority may, in line with the scope of business of a Foreign-invested Banking Institution of a Business Nature and prudential regulation requirements, increase the minimum registered capital or operating capital and specify the renminbi share thereof.

国务院银行业监督管理机构根据外资银行营业性机构的业务范围和审慎监管的需要,可以提高注册资本或者营运资金的最低限额,并规定其中的人民币份额。

Article 9: The shareholders of a proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank or a foreign bank intending to establish a branch or representative office shall satisfy the following conditions:

第九条 拟设外商独资银行、中外合资银行的股东或者拟设分行、代表处的外国银行应当具备下列条件:

(1) have sustained profitability, a good credit rating and no record of major violations of laws or regulations;

(一)    具有持续盈利能力,信誉良好,无重大违法违规记录;

(2) the shareholder(s) of a proposed wholly foreign-owned bank, the foreign shareholder(s) of a proposed Sino-foreign equity joint venture bank or a foreign bank intending to establish a branch or representative office shall have experience in international financial activities;

(二)    拟设外商独资银行的股东、中外合资银行的外方股东或者拟设分行、代表处的外国银行具有从事国际金融活动的经验;

(3) have an effective anti-money laundering system;

(三)    具有有效的反洗钱制度;

(4) the shareholder(s) of a proposed wholly foreign-owned bank, the foreign shareholder of a proposed Sino-foreign equity joint venture bank or a foreign bank intending to establish a branch or representative office shall be subject to effective regulation by, and its application shall have been approved by, the financial regulator of the country or region where it is located; and

(四)    拟设外商独资银行的股东、中外合资银行的外方股东或者拟设分行、代表处的外国银行受到所在国家或者地区金融监管当局的有效监管,并且其申请经所在国家或者地区金融监管当局同意;

(5) other prudential conditions specified by the State Council's banking regulatory authority.

(五)    国务院银行业监督管理机构规定的其他审慎性条件。

The country or region where the shareholder(s) of a proposed wholly foreign-owned bank, the foreign shareholder(s) of a proposed Sino-foreign equity joint venture bank or the foreign bank intending to establish a branch or representative office is located shall have a sound financial regulatory system and its financial regulator shall have established a good regulatory cooperation mechanism with the State Council's banking regulatory authority.

拟设外商独资银行的股东、中外合资银行的外方股东或者拟设分行、代表处的外国银行所在国家或者地区应当具有完善的金融监督管理制度,并且其金融监管当局已经与国务院银行业监督管理机构建立良好的监督管理合作机制。

Article 10: The shareholder(s) of a proposed wholly foreign-owned bank shall be (a) financial institution(s) and, in addition to satisfying the conditions of Article 9 hereof, the sole or controlling shareholder shall satisfy the following conditions:

第十条 拟设外商独资银行的股东应当为金融机构,除应当具备本条例第九条规定的条件外,其中唯一或者控股股东还应当具备下列条件:

(1) be a commercial bank;

(一)    为商业银行;

(2) have established a representative office in the People's Republic of China for at least two years;

(二)    在中华人民共和国境内已经设立代表处2年以上;

(3) have total assets of not less than US$10 billion as at the end of the year prior to submission of its establishment application; and

(三)    提出设立申请前1年年末总资产不少于100亿美元;

(4) have a capital adequacy ratio that complies with the provisions of the financial regulator of the country or region where it is located and those of the State Council's banking regulatory authority.

(四)    资本充足率符合所在国家或者地区金融监管当局以及国务院银行业监督管理机构的规定。

Article 11: The shareholders of a proposed Sino-foreign equity joint venture bank shall satisfy the conditions specified in Article 9 hereof, additionally, the foreign shareholder(s) and the sole or major Chinese shareholder shall be financial institutions, and the sole or major foreign shareholder shall additionally satisfy the following conditions:

第十一条 拟设中外合资银行的股东除应当具备本条例第九条规定的条件外,其中外方股东及中方唯一或者主要股东应当为金融机构,且外方唯一或者主要股东还应当具备下列条件:

(1) be a commercial bank;

(一)    为商业银行;

(2) have established a representative office in the People's Republic of China;

(二)    在中华人民共和国境内已经设立代表处;

(3) have total assets of not less than US$10 billion as at the end of the year prior to submission of the establishment application; and

(三)    提出设立申请前1年年末总资产不少于100亿美元;

(4) have a capital adequacy ratio that complies with the provisions of the financial regulator of the country or region where it is located and those of the State Council's banking regulatory authority.

(四)    资本充足率符合所在国家或者地区金融监管当局以及国务院银行业监督管理机构的规定。

Article 12: A foreign bank intending to establish a branch shall, in addition to satisfying the conditions specified in Article 9 hereof, satisfy the following conditions:

第十二条 拟设分行的外国银行除应当具备本条例第九条规定的条件外,还应当具备下列条件:

(1) have total assets of not less than US$20 billion as at the end of the year prior to submission of the establishment application;

(一)    提出设立申请前1年年末总资产不少于200亿美元;

(2) have a capital adequacy ratio that complies with the provisions of the financial regulator of the country or region where it is located and those of the State Council's banking regulatory authority; and

(二)    资本充足率符合所在国家或者地区金融监管当局以及国务院银行业监督管理机构的规定;

(3) if it is establishing a branch for the first time, having established a representative office in the People's Republic of China for at least two years.

(三)    初次设立分行的,在中华人民共和国境内已经设立代表处2年以上。

Article 13: If a foreign bank establishes an institution of a business nature in the People's Republic of China, it may not establish representative offices additional to those it has already established, except in regions where doing so complies with state regional economic development strategies and related policies.

第十三条 外国银行在中华人民共和国境内设立营业性机构的,除已设立的代表处外,不得增设代表处,但符合国家区域经济发展战略及相关政策的地区除外。

Where approval is granted for the conversion of a representative office into an institution of a business nature, the procedures for the de-registration of the representative office shall be carried out in accordance with the law.

代表处经批准改制为营业性机构的,应当依法办理原代表处的注销登记手续。

Article 14: When establishing a Foreign-invested Banking Institution of a Business Nature, an application for preparation of establishment shall first be made and the application materials set forth below shall be submitted to the Banking Regulatory Authority of the place where the institution is to be established:

第十四条 设立外资银行营业性机构,应当先申请筹建,并将下列申请资料报送拟设机构所在地的银行业监督管理机构:

(1) a written application, which specifies the name, location and registered capital or operating capital of the proposed institution, the type of business applied for and others;

(一)    申请书,内容包括拟设机构的名称、所在地、注册资本或者营运资金、申请经营的业务种类等;

(2) a feasibility study;

(二)    可行性研究报告;

(3) a draft of the articles of association, in the case of a proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank;

(三)    拟设外商独资银行、中外合资银行的章程草案;

(4) the operating contract executed by the shareholders, in the case of a proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank;

(四)    拟设外商独资银行、中外合资银行各方股东签署的经营合同;

(5) the articles of association of the shareholders of the proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank or of the foreign bank intending to establish a branch;

(五)    拟设外商独资银行、中外合资银行的股东或者拟设分行的外国银行的章程;

(6) the organizational chart(s), list(s) of major shareholders and list(s) of overseas (sub-)branches and affiliates of the shareholders of the proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank, or of the foreign bank intending to establish a branch and of the group of which it is a member;

(六)    拟设外商独资银行、中外合资银行的股东或者拟设分行的外国银行及其所在集团的组织结构图、主要股东名单、海外分支机构和关联企业名单;

(7) the annual reports for the most recent three years of the shareholders of the proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank, or of the foreign bank intending to establish a branch;

(七)    拟设外商独资银行、中外合资银行的股东或者拟设分行的外国银行最近3年的年报;

(8) the anti-money laundering systems of the shareholders of the proposed wholly foreign-owned bank or Sino-foreign equity joint venture bank, or of the foreign bank intending to establish a branch;

(八)    拟设外商独资银行、中外合资银行的股东或者拟设分行的外国银行的反洗钱制度;

(9) a photocopy of the business licence(s) or document granting permission to engage in the finance business issued by the financial regulator of the country or region where the shareholder(s) of the proposed wholly foreign-owned bank, the foreign shareholder(s) of the proposed Sino-foreign equity joint venture bank, or the foreign bank intending to establish a branch is/are located and such authority's opinion on the shareholder's/shareholders' or foreign bank's application; and

(九)    拟设外商独资银行的股东、中外合资银行的外方股东或者拟设分行的外国银行所在国家或者地区金融监管当局核发的营业执照或者经营金融业务许可文件的复印件及对其申请的意见书;

(10) other materials specified by the State Council's banking regulatory authority.

(十)    国务院银行业监督管理机构规定的其他资料。

The Banking Regulatory Authority of the place where the institution is to be established shall forward the application materials together with its review opinion to the State Council's banking regulatory authority in a timely manner.

拟设机构所在地的银行业监督管理机构应当将申请资料连同审核意见,及时报送国务院银行业监督管理机构。

Article 15: The State Council's banking regulatory authority shall render its decision on whether or not to grant its approval for the preparation for establishment and notify the applicant in writing within six months from the date of receipt of the complete set of application materials for the establishment of a Foreign-invested Banking Institution of a Business Nature. If it decides to withhold its approval, it shall explain its reasons therefor.

第十五条 国务院银行业监督管理机构应当自收到设立外资银行营业性机构完整的申请资料之日起6个月内作出批准或者不批准筹建的决定,并书面通知申请人。决定不批准的,应当说明理由。

If, in special circumstances, the State Council's banking regulatory authority is unable to complete its examination and render its decision on whether or not to grant approval for preparation for establishment by the deadline specified in the preceding paragraph, it may appropriately extend the examination period and notify the applicant thereof. However, such extension may not exceed three months.

特殊情况下,国务院银行业监督管理机构不能在前款规定期限内完成审查并作出批准或者不批准筹建决定的,可以适当延长审查期限,并书面通知申请人,但延长期限不得超过3个月。

The applicant shall, on the strength of the document approving the preparation for establishment, collect its application for commencement of business from the Banking Regulatory Authority of the place where the institution is to be established.

申请人凭批准筹建文件到拟设机构所在地的银行业监督管理机构领取开业申请表。

Article 16: The applicant shall complete its preparatory work within six months from the date on which it received the approval to prepare for establishment. If it fails to complete such work by the specified deadline, it shall explain the reasons therefor and, subject to the approval of the Banking Regulatory Authority of the place where the institution is to be established, its preparatory period may be extended for three months. If it still fails to complete the preparatory work within the extended period, the decision of the State Council's banking regulatory authority approving the preparation for establishment shall automatically become null and void.

第十六条 申请人应当自获准筹建之日起6个月内完成筹建工作。在规定期限内未完成筹建工作的,应当说明理由,经拟设机构所在地的银行业监督管理机构批准,可以延长3个月。在延长期内仍未完成筹建工作的,国务院银行业监督管理机构作出的批准筹建决定自动失效。

Article 17: Once the preparatory work has been completed and accepted, the applicant shall submit the duly completed application for commencement of business together with the following materials to the Banking Regulatory Authority of the place where the institution is to be established:

第十七条 经验收合格完成筹建工作的,申请人应当将填写好的开业申请表连同下列资料报送拟设机构所在地的银行业监督管理机构:

(1) the list of the main persons in charge of the proposed institution and their r¨¦sum¨¦s;

(一)    拟设机构的主要负责人名单及简历;

(2) the power of attorney of the proposed institution's main persons in charge;

(二)    对拟任该机构主要负责人的授权书;

(3) the capital verification certificate issued by an official capital verification institution;

(三)    法定验资机构出具的验资証明;

(4) information on security measures and on other facilities relating to the business;

(四)    安全防范措施和与业务有关的其他设施的资料;

(5) a guarantee under which the foreign bank establishing a branch undertakes to bear liability for taxes and debts; and

(五)    设立分行的外国银行对该分行承担税务、债务的责任保証书;

(6) other materials specified by the State Council's banking regulatory authority.

(六)    国务院银行业监督管理机构规定的其他资料。

The Banking Regulatory Authority of the place where the institution is to be established shall forward the application materials together with its review opinion to the State Council's banking regulatory authority in a timely manner.

拟设机构所在地的银行业监督管理机构应当将申请资料连同审核意见,及时报送国务院银行业监督管理机构。

Article 18: The State Council's banking regulatory authority shall render its decision on whether or not to grant its approval for the commencement of business and notify the applicant in writing within two months from the date of receipt of the complete set of application materials for the commencement of business. If it decides to grant approval, it shall issue a finance permit. If it decides to withhold its approval, it shall explain its reasons therefor.

第十八条 国务院银行业监督管理机构应当自收到完整的开业申请资料之日起2个月内,作出批准或者不批准开业的决定,并书面通知申请人。决定批准的,应当颁发金融许可証;决定不批准的,应当说明理由。

Article 19: A Foreign-invested Banking Institution of a Business Nature whose establishment has been approved shall, on the strength of its finance permit, carry out registration procedures with, and collect its business licence from, the administration for industry and commerce.

第十九条 经批准设立的外资银行营业性机构,应当凭金融许可証向工商行政管理机关办理登记,领取营业执照。

Article 20: When establishing a representative office of a foreign bank, the following materials shall be submitted to the Banking Regulatory Authority of the place where the representative office is to be established:

第二十条 设立外国银行代表处,应当将下列申请资料报送拟设代表处所在地的银行业监督管理机构:

(1) an application specifying the name, location, etc., of the proposed representative office;

(一)    申请书,内容包括拟设代表处的名称、所在地等;

(2) a feasibility study;

(二)    可行性研究报告;

(3) the articles of association of the applicant;

(三)    申请人的章程;

(4) the organizational chart, list of major shareholders and list of overseas branches and affiliates of the applicant and of the group of which it is a member;

(四)    申请人及其所在集团的组织结构图、主要股东名单、海外分支机构和关联企业名单;

(5) the applicant's annual reports for the most recent three years;

(五)    申请人最近3年的年报;

(6) the applicant's anti-money laundering system;

(六)    申请人的反洗钱制度;

(7) photocopies of the proof of identity and academic qualifications of the proposed chief representative of the representative office, his/her r¨¦sum¨¦ and a statement as to whether he/she has a record of improper conduct;

(七)    拟任该代表处首席代表的身份証明和学历証明的复印件、简历以及拟任人有无不良记录的陈述书;

(8) the power of attorney of the proposed chief representative of the representative office;

(八)    对拟任该代表处首席代表的授权书;

(9) a photocopy of the business licence or document granting permission to engage in the finance business issued by the financial regulator of the country or region where the applicant is located and such authority's opinion on the applicant's application; and

(九)    申请人所在国家或者地区金融监管当局核发的营业执照或者经营金融业务许可文件的复印件及对其申请的意见书;

(10) other materials specified by the State Council's banking regulatory authority.

(十)    国务院银行业监督管理机构规定的其他资料。

The Banking Regulatory Authority of the place where the representative office is to be established shall forward the application materials together with its review opinion to the State Council's banking regulatory authority in a timely manner.

拟设代表处所在地的银行业监督管理机构应当将申请资料连同审核意见,及时报送国务院银行业监督管理机构。

Article 21: The State Council's banking regulatory authority shall render its decision on whether or not to grant its approval for establishment and notify the applicant in writing within six months from the date of receipt of the complete set of application materials for the establishment of a representative office of a foreign bank. If it decides to withhold its approval, it shall explain the reasons therefor.

第二十一条 国务院银行业监督管理机构应当自收到设立外国银行代表处完整的申请资料之日起6个月内作出批准或者不批准设立的决定,并书面通知申请人。决定不批准的,应当说明理由。

Article 22: A foreign bank's representative office whose establishment has been approved shall, on the strength of its approval document, carry out registration procedures with, and collect its business licence from, the administration for industry and commerce.

第二十二条 经批准设立的外国银行代表处,应当凭批准文件向工商行政管理机关办理登记,领取工商登记証。

Article 23: If the materials specified in Article 14, 17 or 20 hereof, with the exception of the annual reports, are written in a foreign language, they shall be accompanied with a Chinese translation.

第二十三条 本条例第十四条、第十七条、第二十条所列资料,除年报外,凡用外文书写的,应当附有中文译本。

Article 24: In line with the principles of lawfulness, prudence and ongoing operations and with the approval of the State Council's banking regulatory authority, a foreign bank may convert a branch established in the People's Republic of China into a wholly foreign-owned bank in which it is the sole investor. The applicant shall submit its application for the establishment of a wholly foreign-owned bank in accordance with the examination and approval conditions, procedure and application materials specified by the State Council's banking regulatory authority.

第二十四条 按照合法性、审慎性和持续经营原则,经国务院银行业监督管理机构批准,外国银行可以将其在中华人民共和国境内设立的分行改制为由其单独出资的外商独资银行。申请人应当按照国务院银行业监督管理机构规定的审批条件、程序、申请资料提出设立外商独资银行的申请。

Article 25: If a foreign bank's branches are converted into a wholly foreign-owned bank in which the head office is the sole investor, subject to the approval of the State Council's banking regulatory authority, the foreign bank may retain for a specified period of time one branch that engages in foreign exchange wholesale business. The applicant shall submit its application in accordance with the examination and approval conditions, procedure and application materials specified by the State Council's banking regulatory authority.

第二十五条 外国银行分行改制为由其总行单独出资的外商独资银行的,经国务院银行业监督管理机构批准,该外国银行可以在规定的期限内保留1家从事外汇批发业务的分行。申请人应当按照国务院银行业监督管理机构规定的审批条件、程序、申请资料提出申请。

For the purposes of the preceding paragraph, the term "foreign exchange wholesale business" means foreign exchange business with customers other than individuals.

前款所称外汇批发业务,是指对除个人以外客户的外汇业务。

Article 26: The qualifications of the directors, senior management personnel and chief representatives of foreign-invested banks shall satisfy the conditions specified by, and be subject to the approval of, the State Council's banking regulatory authority.

第二十六条 外资银行董事、高级管理人员、首席代表的任职资格应当符合国务院银行业监督管理机构规定的条件,并经国务院银行业监督管理机构核准。

Article 27: If a foreign-invested bank encounters any of the following circumstances, it shall require the approval of the State Council's banking regulatory authority, submit application materials in accordance with provisions and carry out the relevant registration procedures with the administration for industry and commerce in accordance with the law:

第二十七条 外资银行有下列情形之一的,应当经国务院银行业监督管理机构批准,并按照规定提交申请资料,依法向工商行政管理机关办理有关登记:

(1) it makes a change to its registered capital or operating capital;

(一)    变更注册资本或者营运资金;

(2) it changes its name, place of business or office premises;

(二)    变更机构名称、营业场所或者办公场所;

(3) it revises its scope of business;

(三)    调整业务范围;

(4) it experiences a change in shareholders or an adjustment is made in the shareholding percentages of its shareholders;

(四)    变更股东或者调整股东持股比例;

(5) it amends its articles of association; or

(五)    修改章程;

(6) another circumstance specified by the State Council's banking regulatory authority arises.

(六)    国务院银行业监督管理机构规定的其他情形。

If a foreign-invested bank is to replace a director, a member of its senior management personnel or its chief representative, it shall report the same to the State Council's banking regulatory authority for approval of the qualifications of the replacement for the position.

外资银行更换董事、高级管理人员、首席代表,应当报经国务院银行业监督管理机构核准其任职资格。

Article 28: If a change in the shareholders of a wholly foreign-owned bank or Sino-foreign equity joint venture bank is to be made, the shareholders, following such change, shall satisfy the conditions for shareholders specified in Article 9, 10 or 11 hereof.

第二十八条 外商独资银行、中外合资银行变更股东的,变更后的股东应当符合本条例第九条、第十条或者第十一条关于股东的条件。

Under special circumstances and with the consent of the State Council's banking regulatory authority, the shareholders, following the change, may be exempted from compliance with Item (2) of Article 10 or Item (2) of Article 11 hereof.

特殊情况下,经国务院银行业监督管理机构同意,变更后的股东可以不适用本条例第十条第(二)项或者第十一条第(二)项的规定。

PART THREE: SCOPE OF BUSINESS

第三章 业务范围

Article 29: Based on the scope of business approved by the State Council's banking regulatory authority, wholly foreign-owned banks and Sino-foreign equity joint venture banks may engage in some or all of the following foreign exchange and renminbi business:

第二十九条 外商独资银行、中外合资银行按照国务院银行业监督管理机构批准的业务范围,可以经营下列部分或者全部外汇业务和人民币业务:

(1) taking deposits from the public;

(一)    吸收公众存款;

(2) extension of short-term, medium-term and long-term loans;

(二)    发放短期、中期和长期贷款;

(3) handling acceptance and discounting of bills;

(三)    办理票据承兑与贴现;

(4) dealing in government bonds and financial bonds, and dealing in other negotiable securities, other than stocks, denominated in foreign currencies;

(四)    买卖政府债券、金融债券,买卖股票以外的其他外币有价証券;

(5) providing letter of credit services and security;

(五)    提供信用証服务及担保;

(6) handling of domestic and foreign settlements;

(六)    办理国内外结算;

(7) dealing in foreign exchange and dealing in foreign exchange as an agency;

(七)    买卖、代理买卖外汇;

(8) insurance agency;

(八)    代理保险;

(9) engaging in interbank lending;

(九)    从事同业拆借;

(10) engaging in bank card business;

(十)    从事银行卡业务;

(11) providing safety deposit box service;

(十一)  提供保管箱服务;

(12) providing credit investigation and consulting services;
and

(十二)  提供资信调查和咨询服务;

(13) other business approved by the State Council's banking regulatory authority.

(十三)  经国务院银行业监督管理机构批准的其他业务。

Subject to the approval of the People's Bank of China, wholly foreign-owned banks and Sino-foreign equity joint venture banks may engage in foreign exchange settlement and foreign exchange sales business.

外商独资银行、中外合资银行经中国人民银行批准,可以经营结汇、售汇业务。

Article 30: The (sub-)branches of wholly foreign-owned banks and Sino-foreign equity joint venture banks shall engage in business within the scope authorized by their head offices, and their civil liability shall be borne by their head offices.

第三十条 外商独资银行、中外合资银行的分支机构在总行授权范围内开展业务,其民事责任由总行承担。

Article 31: Based on the scope of business approved by the State Council's banking regulatory authority, foreign banks' branches may engage in some or all of the following foreign exchange business as well as renminbi business targeting customers other than citizens in China:

第三十一条 外国银行分行按照国务院银行业监督管理机构批准的业务范围,可以经营下列部分或者全部外汇业务以及对除中国境内公民以外客户的人民币业务:

(1) taking deposits from the public;

(一)    吸收公众存款;

(2) extension of short-term, medium-term and long-term loans;

(二)    发放短期、中期和长期贷款;

(3) handling acceptance and discounting of bills;

(三)    办理票据承兑与贴现;

(4) dealing in government bonds and financial bonds, and dealing in other negotiable securities, other than stocks, denominated in foreign currencies;

(四)    买卖政府债券、金融债券,买卖股票以外的其他外币有价証券;

(5) providing letter of credit services and security;

(五)    提供信用証服务及担保;

(6) handling domestic and foreign settlements;

(六)    办理国内外结算;

(7) dealing in foreign exchange and dealing in foreign exchange as an agency;

(七)    买卖、代理买卖外汇;

(8) insurance agency;

(八)    代理保险;

(9) engaging in interbank lending;

(九)    从事同业拆借;

(10) providing safety deposit box service;

(十)    提供保管箱服务;

(11) providing credit investigation and consulting services; and

(十一)  提供资信调查和咨询服务;

(12) other business approved by the State Council's banking regulatory authority.

(十二)  经国务院银行业监督管理机构批准的其他业务。

Branches of foreign banks may attract term deposits of not less than Rmb1 million each from citizens in China.

外国银行分行可以吸收中国境内公民每笔不少于100万元人民币的定期存款。

Subject to the approval of the People's Bank of China, foreign banks' branches may engage in foreign exchange settlement and foreign exchange sales business.

外国银行分行经中国人民银行批准,可以经营结汇、售汇业务。

Article 32: The civil liability of a foreign bank's branch and that of its sub-branches and offices shall be borne by the head office.

第三十二条 外国银行分行及其分支机构的民事责任由其总行承担。

Article 33: The representative office of a foreign bank may engage in such non-business type activities relating to the business of the foreign bank that it represents as liaison, market surveying, consulting services and others.

第三十三条 外国银行代表处可以从事与其代表的外国银行业务相关的联络、市场调查、咨询等非经营性活动。

The civil liability arising from the acts of a representative office of a foreign bank shall be borne by the foreign bank that it represents.

外国银行代表处的行为所产生的民事责任,由其所代表的外国银行承担。

Article 34: A Foreign-invested Banking Institution of a Business Nature that engages in renminbi business within the scope of business specified in Article 29 or 31 hereof shall satisfy the following conditions and be subject to the approval of the State Council's banking regulatory authority:

第三十四条 外资银行营业性机构经营本条例第二十九条或者第三十一条规定业务范围内的人民币业务的,应当具备下列条件,并经国务院银行业监督管理机构批准:

(1) having been in business in the People's Republic of China for three years or more prior to the submission of its application;

(一)    提出申请前在中华人民共和国境内开业3年以上;

(2) having been profitable for two years in succession prior to the submission of its application; and

(二)    提出申请前2年连续盈利;

(3) other prudential conditions specified by the State Council's banking regulatory authority.

(三)    国务院银行业监督管理机构规定的其他审慎性条件。

If a foreign bank's branch is converted into a wholly foreign-owned bank in which its head office is the sole investor, the time periods specified in Items (1) and (2) of the preceding paragraph shall be calculated from the date on which the foreign bank's branch was established.

外国银行分行改制为由其总行单独出资的外商独资银行的,前款第(一)项、第(二)项规定的期限自外国银行分行设立之日起计算。

PART FOUR: REGULATION

第四章 监督管理

Article 35: A Foreign-invested Banking Institution of a Business Nature shall formulate its business rules and establish and improve its risk management and internal control systems in accordance with relevant provisions, and act in accordance therewith.

第三十五条 外资银行营业性机构应当按照有关规定,制定本行的业务规则,建立、健全风险管理和内部控制制度,并遵照执行。

Article 36: A Foreign-invested Banking Institution of a Business Nature shall comply with the state's uniform accounting system and relevant information disclosure provisions of the State Council's banking regulatory authority.

第三十六条 外资银行营业性机构应当遵守国家统一的会计制度和国务院银行业监督管理机构有关信息披露的规定。

Article 37: When taking out foreign debt, a Foreign-invested Banking Institution of a Business Nature shall handle matters in accordance with relevant state provisions.

第三十七条 外资银行营业性机构举借外债,应当按照国家有关规定执行。

Article 38: A Foreign-invested Banking Institution of a Business Nature shall determine deposit and loan interest rates and the rates for various service charges in accordance with relevant provisions.

第三十八条 外资银行营业性机构应当按照有关规定确定存款、贷款利率及各种手续费率。

Article 39: A Foreign-invested Banking Institution of a Business Nature that engages in deposit business shall deposit a deposit reserve in accordance with the provisions of the People's Bank of China.

第三十九条 外资银行营业性机构经营存款业务,应当按照中国人民银行的规定交存存款准备金。

Article 40: Wholly foreign-owned banks and Sino-foreign equity joint venture banks shall comply with the provisions of the PRC Commercial Banking Law on the administration of asset-liability ratios. If the asset-liability ratio of a wholly foreign-owned bank converted from a foreign bank's branch in which its head office is the sole investor or of a wholly foreign-owned bank or Sino-foreign equity joint venture bank established prior to the implementation hereof is not compliant, it shall satisfy such requirements within the time period specified by the State Council's banking regulatory authority.

第四十条 外商独资银行、中外合资银行应当遵守《中华人民共和国商业银行法》关于资产负债比例管理的规定。外国银行分行变更的由其总行单独出资的外商独资银行以及本条例施行前设立的外商独资银行、中外合资银行,其资产负债比例不符合规定的,应当在国务院银行业监督管理机构规定的期限内达到规定要求。

The State Council's banking regulatory authority may require a wholly foreign-owned bank or Sino-foreign equity joint venture bank with relatively elevated risks or whose risk management capabilities are relatively weak to increase its capital adequacy ratio.

国务院银行业监督管理机构可以要求风险较高、风险管理能力较弱的外商独资银行、中外合资银行提高资本充足率。

Article 41: A Foreign-invested Banking Institution of a Business Nature shall make provisions for bad debts in accordance with provisions.

第四十一条 外资银行营业性机构应当按照规定计提呆账准备金。

Article 42: Wholly foreign-owned banks and Sino-foreign equity joint venture banks shall comply with relevant provisions of the State Council's banking regulatory authority on corporate governance.

第四十二条 外商独资银行、中外合资银行应当遵守国务院银行业监督管理机构有关公司治理的规定。

Article 43: Wholly foreign-owned banks and Sino-foreign equity joint venture banks shall comply with relevant provisions of the State Council's banking regulatory authority on affiliated transactions.

第四十三条 外商独资银行、中外合资银行应当遵守国务院银行业监督管理机构有关关联交易的规定。

Article 44: Thirty percent of the operating capital of a foreign bank's branch shall exist in the form of interest-bearing assets designated by the State Council's banking regulatory authority.

第四十四条 外国银行分行营运资金的30%应当以国务院银行业监督管理机构指定的生息资产形式存在。

Article 45: The percentage of the renminbi share of the total of a branch of a foreign bank's operating capital plus reserves, etc., to its renminbi risk assets may not be less than 8%.

第四十五条 外国银行分行营运资金加准备金等项之和中的人民币份额与其人民币风险资产的比例不得低于8%。

The State Council's banking regulatory authority may require a foreign bank's branch with relatively elevated risks or whose risk management capabilities are relatively weak to increase the percentage specified in the preceding paragraph.

国务院银行业监督管理机构可以要求风险较高、风险管理能力较弱的外国银行分行提高前款规定的比例。

Article 46: A foreign bank's branch shall ensure the liquidity of its assets. The percentage of the balance of current assets to the balance of current liabilities may not be less than 25%.

第四十六条 外国银行分行应当确保其资产的流动性。流动性资产余额与流动性负债余额的比例不得低于25%。

Article 47: The balance of renminbi and foreign currency assets in China of a foreign bank's branch may not be less than the balance of its renminbi and foreign currency liabilities in China.

第四十七条 外国银行分行境内本外币资产余额不得低于境内本外币负债余额。

Article 48: If a foreign bank establishes two or more branches in the People's Republic of China, it shall authorize one among them to exercise centralized management over the others.

第四十八条 在中华人民共和国境内设立2家及2家以上分行的外国银行,应当授权其中1家分行对其他分行实施统一管理。

The State Council's banking regulatory authority shall effect consolidated regulation of the branches established in the People's Republic of China by a foreign bank.

国务院银行业监督管理机构对外国银行在中华人民共和国境内设立的分行实行合并监管。

Article 49: A Foreign-invested Banking Institution of a Business Nature shall report large cross-border fund flows and asset transfers to the Banking Regulatory Authority of the place where it is located in accordance with the relevant provisions of the State Council's banking regulatory authority.

第四十九条 外资银行营业性机构应当按照国务院银行业监督管理机构的有关规定,向其所在地的银行业监督管理机构报告跨境大额资金流动和资产转移情况。

Article 50: Depending on the risk status of a Foreign-invested Banking Institution of a Business Nature, the State Council's banking regulatory authority may, in accordance with the law, take such special regulatory measures against it as ordering it to suspend some of its business, ordering it to replace senior management personnel, etc.

第五十条 国务院银行业监督管理机构根据外资银行营业性机构的风险状况,可以依法采取责令暂停部分业务、责令撤换高级管理人员等特别监管措施。

Article 51: A Foreign-invested Banking Institution of a Business Nature shall engage an accounting firm lawfully established in the People's Republic of China to audit its financial accounting reports and shall report such engagement to the Banking Regulatory Authority of the place where it is located. If it dismisses its accounting firm, it shall explain the reason therefor.

第五十一条 外资银行营业性机构应当聘请在中华人民共和国境内依法设立的会计师事务所对其财务会计报告进行审计,并应当向其所在地的银行业监督管理机构报告。解聘会计师事务所的,应当说明理由。

Article 52: A Foreign-invested Banking Institution of a Business Nature shall submit its financial accounting reports, statements and relevant information to the Banking Regulatory Authority in accordance with provisions.

第五十二条 外资银行营业性机构应当按照规定向银行业监督管理机构报送财务会计报告、报表和有关资料。

The representative office of a foreign bank shall submit information to the Banking Regulatory Authority in accordance with provisions.

外国银行代表处应当按照规定向银行业监督管理机构报送资料。

Article 53: A foreign-invested bank shall submit itself to the monitoring inspections conducted by the Banking Regulatory Authority in accordance with the law, and may not refuse or interfere with such inspections.

第五十三条 外资银行应当接受银行业监督管理机构依法进行的监督检查,不得拒绝、阻碍。

Article 54: Wholly foreign-owned banks and Sino-foreign equity joint venture banks shall establish independent internal control systems, risk management systems, financial accounting systems and computer information management systems.

第五十四条 外商独资银行、中外合资银行应当设置独立的内部控制系统、风险管理系统、财务会计系统、计算机信息管理系统。

Article 55: The chairman of the board of directors and senior management personnel of a wholly foreign-owned bank established in the People's Republic of China by a foreign bank may not serve concurrently as senior management personnel of the foreign bank's branch that engages in foreign exchange wholesale business, or vice versa.

第五十五条 外国银行在中华人民共和国境内设立的外商独资银行的董事长、高级管理人员和从事外汇批发业务的外国银行分行的高级管理人员不得相互兼职。

Article 56: The transactions conducted between a wholly foreign-owned bank established in the People's Republic of China by a foreign bank and such bank's branch that engages in foreign exchange wholesale business shall comply with commercial principles and the transaction terms may not be more favourable than the terms of transactions conducted with non-affiliated parties. A foreign bank shall provide security for the whole amount of a fund transaction conducted between its wholly foreign-owned bank established in the People's Republic of China and its branch that engages in foreign exchange wholesale business.

第五十六条 外国银行在中华人民共和国境内设立的外商独资银行与从事外汇批发业务的外国银行分行之间进行的交易必须符合商业原则,交易条件不得优于与非关联方进行交易的条件。外国银行对其在中华人民共和国境内设立的外商独资银行与从事外汇批发业务的外国银行分行之间的资金交易,应当提供全额担保。

Article 57: A foreign bank's representative office and its working personnel may not engage in activities of a business nature in any form.

第五十七条 外国银行代表处及其工作人员,不得从事任何形式的经营性活动。

PART FIVE: TERMINATION AND LIQUIDATION OF BUSINESS

第五章 终止与清算

Article 58: If a Foreign-invested Banking Institution of a Business Nature is to terminate its business activities of its own accord, it shall submit a written application to the State Council's banking regulatory authority 30 days prior to the termination of its business activities. After examination and approval, it shall be dissolved or closed down and liquidated.

第五十八条 外资银行营业性机构自行终止业务活动的,应当在终止业务活动30日前以书面形式向国务院银行业监督管理机构提出申请,经审查批准予以解散或者关闭并进行清算。

Article 59: If a Foreign-invested Banking Institution of a Business Nature becomes insolvent, the State Council's banking regulatory authority may order it to suspend operations and reorganize within a specified period of time. If it recovers solvency during the reorganization period and wishes to recommence operations, it shall submit an application for the recommencement of operations to the State Council's banking regulatory authority. If it fails to restore its solvency during the reorganization period, it shall be liquidated.

第五十九条 外资银行营业性机构无力清偿到期债务的,国务院银行业监督管理机构可以责令其停业,限期清理。在清理期限内,已恢复偿付能力、需要复业的,应当向国务院银行业监督管理机构提出复业申请;超过清理期限,仍未恢复偿付能力的,应当进行清算。

Article 60: If a Foreign-invested Banking Institution of a Business Nature is terminated as a result of being dissolved, closing down, being closed down in accordance with the law or being declared bankrupt, specific matters relating to its liquidation shall be handled in accordance with relevant laws and regulations of the People's Republic of China.

第六十条 外资银行营业性机构因解散、关闭、依法被撤销或者宣告破产而终止的,其清算的具体事宜,依照中华人民共和国有关法律、法规的规定办理。

Article 61: Once the liquidation of a Foreign-invested Banking Institution of a Business Nature is concluded, de-registration procedures shall be carried out by the statutory deadline with the original registration authority.

第六十一条 外资银行营业性机构清算终结,应当在法定期限内向原登记机关办理注销登记。

Article 62: If a representative office of a foreign bank is to terminate its activities of its own accord, it shall require the approval of the State Council's banking regulatory authority for closing down and carry out de-registration procedures by the statutory deadline with the original registration authority.

第六十二条 外国银行代表处自行终止活动的,应当经国务院银行业监督管理机构批准予以关闭,并在法定期限内向原登记机关办理注销登记。

PART SIX: LEGAL LIABILITY

第六章 法律责任

Article 63: If a foreign-invested bank is established without the examination and approval of the State Council's banking regulatory authority or if business activities of a banking type financial institution are engaged in illegally, the State Council's banking regulatory authority shall close down such operations and the State Council's banking regulatory authority will not accept applications for the establishment of a foreign-invested bank from the concerned party or parties for a period of five years from the date of closing down. If a criminal offence is established, criminal liability shall be pursued in accordance with the law. If a criminal offence is not established, the State Council's banking regulatory authority shall confiscate the illegal income and, if the illegal income totals Rmb500,000 or more, impose a fine of not less than the amount of the illegal income and not more than five times the amount, or, if there is no illegal income or if it is less than Rmb500,000, a fine of not less than Rmb500,000 and not more than Rmb2 million.

第六十三条 未经国务院银行业监督管理机构审查批准,擅自设立外资银行或者非法从事银行业金融机构的业务活动的,由国务院银行业监督管理机构予以取缔,自被取缔之日起5年内,国务院银行业监督管理机构不受理该当事人设立外资银行的申请;构成犯罪的,依法追究刑事责任;尚不构成犯罪的,由国务院银行业监督管理机构没收违法所得,违法所得50万元以上的,并处违法所得1倍以上5倍以下罚款;没有违法所得或者违法所得不足50万元的,处50万元以上200万元以下罚款。

Article 64: If a Foreign-invested Banking Institution of a Business Nature encounters any of the circumstances set forth below, the State Council's banking regulatory authority shall order it to rectify the matter, confiscate its illegal income and, if the illegal income totals Rmb500,000 or more, impose a fine of not less than the amount of the illegal income and not more than five times the amount, or, if there is no illegal income or if it is less than Rmb500,000, a fine of not less than Rmb500,000 and not more than Rmb2 million; if the circumstances are particularly serious or if it fails to rectify the matter within the specified period of time, the State Council's banking regulatory authority may order it to suspend operations and undergo rectification or revoke its finance permit; if a criminal offence is established, criminal liability shall be pursued in accordance with the law:

第六十四条 外资银行营业性机构有下列情形之一的,由国务院银行业监督管理机构责令改正,没收违法所得,违法所得50万元以上的,并处违法所得1倍以上5倍以下罚款;没有违法所得或者违法所得不足50万元的,处50万元以上200万元以下罚款;情节特别严重或者逾期不改正的,可以责令停业整顿或者吊销其金融许可証;构成犯罪的,依法追究刑事责任:

(1) it establishes a (sub-)branch without approval;

(一)    未经批准设立分支机构的;

(2) it effects a change or terminates business without approval;

(二)    未经批准变更、终止的;

(3) it violates provisions by engaging in business activities for which it has not received approval; or

(三)    违反规定从事未经批准的业务活动的;

(4) it violates provisions by increasing or reducing the deposit or loan interest rate.

(四)    违反规定提高或者降低存款利率、贷款利率的。

Article 65: If a foreign-invested bank encounters any of the circumstances set forth below, the State Council's banking regulatory authority shall order it to rectify the matter and impose a fine of not less than Rmb200,000 and not more than Rmb500,000; if the circumstances are particularly serious or if it fails to rectify the matter within the specified period of time, the State Council's banking regulatory authority may order it to suspend operations and undergo rectification, revoke its finance permit or close down the representative office; if a criminal offence is established, criminal liability shall be pursued in accordance with the law:

第六十五条 外资银行有下列情形之一的,由国务院银行业监督管理机构责令改正,处20万元以上50万元以下罚款;情节特别严重或者逾期不改正的,可以责令停业整顿、吊销其金融许可証、撤销代表处;构成犯罪的,依法追究刑事责任:

(1) it fails to disclose information in accordance with relevant provisions;

(一)    未按照有关规定进行信息披露的;

(2) it refuses or interferes with a monitoring inspection conducted by the Banking Regulatory Authority in accordance with the law;

(二)    拒绝或者阻碍银行业监督管理机构依法进行的监督检查的;

(3) it provides false financial accounting reports, statements or relevant information or those that conceal material facts;

(三)    提供虚假的或者隐瞒重要事实的财务会计报告、报表或者有关资料的;

(4) it conceals or destroys documents, certificates, account books, electronic data or other information required for a monitoring inspection;

(四)    隐匿、损毁监督检查所需的文件、証件、账簿、电子数据或者其他资料的;

(5) it appoints a director, member of its senior management personnel or a chief representative whose qualifications have not been approved; or

(五)    未经任职资格核准任命董事、高级管理人员、首席代表的;

(6) it refuses to implement the special regulatory measures specified in Article 50 hereof.

(六)    拒绝执行本条例第五十条规定的特别监管措施的。

Article 66: If a Foreign-invested Banking Institution of a Business Nature violates relevant provisions hereof by failing to submit financial accounting reports, statements and relevant information on time, or fails to formulate relevant business rules or establish sound management systems in accordance with provisions, the State Council's banking regulatory authority shall order it to rectify the matter within a specified period of time. If it fails to rectify the matter within the specified period of time, the State Council's banking regulatory authority shall impose a fine of not less than Rmb100,000 and not more than Rmb300,000.

第六十六条 外资银行营业性机构违反本条例有关规定,未按期报送财务会计报告、报表或者有关资料,或者未按照规定制定有关业务规则、建立健全有关管理制度的,由国务院银行业监督管理机构责令限期改正;逾期不改正的,处10万元以上30万元以下罚款。

Article 67: If a Foreign-invested Banking Institution of a Business Nature violates Part Four hereof in conducting its business or seriously violates other prudential operating rules, the State Council's banking regulatory authority shall order it to rectify the matter and impose a fine of not less than Rmb200,000 and not more than Rmb500,000. If the circumstances are particularly serious or if it fails to rectify the matter within the specified period of time, the State Council's banking regulatory authority may order it to suspend operations and undergo rectification or revoke its finance permit.

第六十七条 外资银行营业性机构违反本条例第四章有关规定从事经营或者严重违反其他审慎经营规则的,由国务院银行业监督管理机构责令改正,处20万元以上50万元以下罚款;情节特别严重或者逾期不改正的,可以责令停业整顿或者吊销其金融许可証。

Article 68: If a Foreign-invested Banking Institution of a Business Nature violates these Regulations, the State Council's banking regulatory authority, in addition to imposing penalties in accordance with Articles 63 to 67 hereof, may, depending on the circumstances, take the following measures:

第六十八条 外资银行营业性机构违反本条例规定,国务院银行业监督管理机构除依照本条例第六十三条至第六十七条规定处罚外,还可以区别不同情形,采取下列措施:

(1) order the Foreign-invested Banking Institution of a Business Nature to replace the directors and senior management personnel directly in charge and other persons directly responsible;

(一)    责令外资银行营业性机构撤换直接负责的董事、高级管理人员和其他直接责任人员;

(2) if the act committed by the Foreign-invested Banking Institution of a Business Nature does not constitute a criminal offence, give a warning to, and impose a fine of not less than Rmb50,000 and not more than Rmb500,000 on, the directors and senior management personnel directly in charge and other persons directly responsible;

(二)    外资银行营业性机构的行为尚不构成犯罪的,对直接负责的董事、高级管理人员和其他直接责任人员给予警告,并处5万元以上50万元以下罚款;

(3) revoke the qualifications in the People's Republic of China of the directors and senior management personnel directly in charge and other persons directly responsible for a certain period of time up to a lifetime ban or prohibit the directors and senior management personnel directly in charge and other persons directly responsible from working in the banking sector in the People's Republic of China for a certain period of time up to a lifetime ban.

(三)    取消直接负责的董事、高级管理人员一定期限直至终身在中华人民共和国境内的任职资格,禁止直接负责的董事、高级管理人员和其他直接责任人员一定期限直至终身在中华人民共和国境内从事银行业工作。

Article 69: If a representative office of a foreign bank violates these Regulations by engaging in activities of a business nature, the State Council's banking regulatory authority shall order it to rectify the matter, give it a warning, confiscate its illegal income and, if the illegal income totals Rmb500,000 or more, impose a fine of not less than the amount of the illegal income and not more than five times the amount, or, if there is no illegal income or if it is less than Rmb500,000, a fine of not less than Rmb500,000 and not more than Rmb2 million. If the circumstances are serious, the State Council's banking regulatory authority shall close down the representative office. If a criminal offence is established, criminal liability shall be pursued in accordance with the law.

第六十九条 外国银行代表处违反本条例规定,从事经营性活动的,由国务院银行业监督管理机构责令改正,给予警告,没收违法所得,违法所得50万元以上的,并处违法所得1倍以上5倍以下罚款;没有违法所得或者违法所得不足50万元的,处50万元以上200万元以下罚款;情节严重的,由国务院银行业监督管理机构予以撤销;构成犯罪的,依法追究刑事责任。

Article 70: If a representative office of a foreign bank encounters any of the circumstances set forth below, the State Council's banking regulatory authority shall order it to rectify the matter, give it a warning and impose a fine of not less than Rmb100,000 and not more than Rmb300,000; if the circumstances are serious, the State Council's banking regulatory authority shall revoke the qualifications in the People's Republic of China of the chief representative for a certain period of time or require the foreign bank that he/she represents to replace him/her; if the circumstances are particularly serious, the State Council's banking regulatory authority shall close it down:

第七十条 外国银行代表处有下列情形之一的,由国务院银行业监督管理机构责令改正,给予警告,并处10万元以上30万元以下罚款;情节严重的,取消首席代表一定期限在中华人民共和国境内的任职资格或者要求其代表的外国银行撤换首席代表;情节特别严重的,由国务院银行业监督管理机构予以撤销:

(1) it changes office premises without approval;

(一)    未经批准变更办公场所的;

(2) it fails to submit information to the State Council's banking regulatory authority in accordance with provisions; or

(二)    未按照规定向国务院银行业监督管理机构报送资料的;

(3) it violates other provisions hereof or of other provisions of the State Council's banking regulatory authority.

(三)    违反本条例或者国务院银行业监督管理机构的其他规定的。

Article 71: If a foreign-invested bank violates other laws or regulations of the People's Republic of China, the matter shall be handled by the relevant competent authority in accordance with the law.

第七十一条 外资银行违反中华人民共和国其他法律、法规的,由有关主管机关依法处理。

PART SEVEN: SUPPLEMENTARY PROVISIONS

第七章 附则

Article 72: These Regulations shall apply mutatis mutandis to the establishment of banking institutions in the mainland by financial institutions of the Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan. If the State Council has provided otherwise, such provisions shall govern.

第七十二条 香港特别行政区、澳门特别行政区和台湾地区的金融机构在内地设立的银行机构,比照适用本条例。国务院另有规定的,依照其规定。

Article 73: These Regulations shall be effective as of December 11 2006. The PRC Regulations for the Administration of Foreign-invested Financial Institutions promulgated by the State Council on December 20 2001 shall be repealed simultaneously.

clp reference:3610/06.11.11prc reference:国务院令 第 478 号promulgated:2006-11-11effective:2006-12-11

第七十三条 本条例自2006年12月11日起施行。2001年12月20日国务院公布的《中华人民共和国外资金融机构管理条例》同时废止。

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