State Council Information Office, Ministry of Commerce and State Administration for Industry and Commerce, Provisions for the Administration of the Provision of Financial Information Services in China by Foreign Organisations

国务院新闻办公室、商务部、国家工商行政管理总局外国机构在中国境内提供金融信息服务管理规定

September 04, 2009 | BY

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China issue rules to regulate provision of financial information services by foreign organisations.

Clp Reference: 5600/09.04.30 Promulgated: 2009-04-30 Effective: 2009-06-01

Promulgated: April 30 2009
Effective: June 1 2009

Applicability: For the purposes of these Provisions, the term “foreign organisations” means foreign providers of financial information services.

For the purposes of these Provisions, the term “financial information services” means the services of providing information and/or financial data that could have an impact on financial markets to clients that engage in financial analysis, financial trading, financial decision making or other financial services. Such services are different from the services provided by press agencies (Article 2).

These Provisions shall apply mutatis mutandis to the provision of financial information services in the mainland by relevant organisations from the Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan (Article 24).

Main contents: A foreign organisation applying to provide financial information services in China shall satisfy the following conditions:

(1) having the appropriate lawful qualifications in its residing country (region);

(2) having a good reputation in the financial information services sector;

(3) having a clear financial information services business;

(4) having good means of transmission and technical services; and

(5) other conditions as specified in laws and regulations of China (Article 5).

Related legislation: State Council, Decision on Amending the <State Council, Decision on Instituting Administrative Licensing for Administrative Examination and Approval Items that Truly Need to be Retained>

clp reference:5600/09.04.30prc reference:国务院新闻办公室、商务部、工商总局令第7号promulgated:2009-04-30effective:2009-06-01

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