State Council, Deposit Insurance Regulations

Main contents: Deposit-taking banking financial institutions, such as commercial banks, rural cooperative banks and rural credit cooperatives, established in China (hereinafter collectively referred to as "Insured Institutions") shall take out deposit insurance in accordance herewith.

The provisions of the preceding paragraph shall not apply to the (sub-)branches that Insured Institutions establish outside China nor to (sub-)branches established in China by foreign banks (Article 2).

For the purposes of these Regulations, the term “deposit insurance” means a system wherein an Insured Institution pays insurance premiums to the deposit insurance fund management institution, giving rise to the deposit insurance fund, and the deposit insurance fund management institution pays back the insured deposits to the depositors in accordance herewith and takes the necessary measures to safeguard the deposits and the deposit insurance fund (Article 3).

Insured deposits include the renminbi deposits and foreign currency deposits taken by the Insured Institution, but exclude the interbank deposits of financial institutions, the deposits placed by senior management personnel of the Insured Institution with their institution and other deposits that the insurance deposit fund management institution specifies are not covered by insurance (Article 4).

The maximum indemnification limit for deposit insurance shall be Rmb500,000 (Article 5).