Legislation roundup: Foreign financial institutions, bond trading and construction projects

Beijing

Beijing Municipality, Deregulation Measures for the Comprehensive Pilot Project for Increasing the Deregulation of the Service Industry
北京市服务业扩大开放综合试点开放措施

Subject to relevant regulations, foreign-funded financial institutions in Beijing are permitted to establish foreign-funded banks, and private capital is permitted to establish Sino-foreign equity joint venture banks jointly with foreign-funded financial institutions.

See the digest for more details.

Further reading
PRC Regulations for the Administration of Foreign-invested Banks (2nd Revision)
Lifting bans on foreign banks
Implementing Opinions on Encouraging and Guiding the Entry of Private Capital into the Banking Sector


Capital markets

People's Bank of China, Announcement [2015] No.9
中国人民银行公告 [2015] 第9号

Examination and approval for the trading and circulation of bonds on the interbank bond market is abolished. For the various classes of bonds offered in accordance with the law, once the claim-debt relationship has been established and registration completed, such bonds may be traded and circulate on the interbank bond market.

Further reading
Provisions for the Administration of Market Makers of the National Interbank Bond Market
Administration of Bond Transactions in the National Interbank Bond Market Measures


Construction

Ministry of Transport, Measures for the Administration of the Construction of Highway Construction Projects on the Behalf of Project Owners
交通运输部公路建设项目代建管理办法

An entity that is to construct an expressway, Class I highway, standalone bridge or tunnel on behalf of the construction project's legal representative shall have undertaken construction project management related work for at least five expressway, Class I highway or standalone bridge or tunnel projects.

Further reading
Provisions for the Administration of Invitation and Submission of Bids for Commercial Highway Construction Projects by Investors
Measures for Advance Evaluation of Bidding Qualifications for Highway Construction Projects
Circular on the Launch of Pilot Work of General Contracting for Design and Construction Work of Highway Projects