State Council, PRC Regulations for the Administration of Foreign-invested Banks (2nd Revision)

国务院中华人民共和国外资银行管理条例 (第二次修订)

January 16, 2015 | BY

clpstaff &clp articles &

China lowers the market access thresholds for foreign-invested banks.

Clp Reference: 3610/14.11.27 Promulgated: 2014-11-27 Effective: 2015-01-01

Promulgated: November 27 2014

Effective: January 1 2015

Main contents: The revised Regulations lift the requirement for a wholly foreign-owned bank or Sino-foreign equity joint venture bank to allocate a minimum amount of operating capital from the head office when establishing a branch. Also, when a foreign bank establishes a wholly foreign-owned bank or Sino-foreign equity joint venture bank or when a foreign bank establishes a branch in China for the first time, it is no longer required to have established a representative office in China.

Repealed legislation: PRC Regulations for the Administration of Foreign-funded Financial Institutions

clp reference:3610/14.11.27promulgated:2014-11-27effective:2015-01-01

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