China Banking Regulatory Commission, Implementing Measures on the Administrative Permission Matters Relating to Foreign-funded Banks (Draft for Comments)

中国银行业监管管理委员会外资银行行政许可事项实施办法 (征求意见稿)

November 12, 2013 | BY

CLP Temp &clp articles &

Issued: September 30 2013 Main contents: The Draft requires that proposed wholly foreign-owned banks and Sino-foreign equity joint venture banks have…

Promulgated: 2013-10-11

Issued: September 30 2013

Main contents: The Draft requires that proposed wholly foreign-owned banks and Sino-foreign equity joint venture banks have registered capital of at least Rmb1 billion. The foreign investor in a wholly foreign-owned bank or equity joint venture bank is required to have had assets of at least US$10 billion in the year prior to the submission of the application.

Furthermore, the Draft requires that a foreign bank that wishes to establish a branch should have had total assets of at least US$20 billion in the year prior to the submission of the application. Additionally, it is required to allocate to the branch working capital of at least Rmb200 million or the equivalent in a freely convertible currency.

issued:2013-10-11

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