Ministry of Commerce, National Development and Reform Commission, People's Bank of China, General Administration of Customs and State Administration of Quality Supervision, Inspection and Quarantine, Several Opinions on Further Advancing Experimentation in the Comprehensive Pilot Project for a New Open Economic System
商务部、发展改革委、人民银行、海关总署、质检总局关于进一步推进开放型经济新体制综合试点试验的若干意见
September 16, 2017 | BY
Susan Mok &Joint private and foreign investment encouraged in banks in pilot areas.
Issued: April 7 2017
Main contents: Qualified enterprises in zones under special customs surveillance in the pilot regions (the 12 pilot cities and regions of Jinan Municipality, Nanchang Municipality, Tangshan Municipality, Zhangzhou Municipality, Dongguan Municipality, Fangchenggang Municipality, Pudong New Area, Liangjiang New Area, Xixian New Area, Dalian Jinpu New Area, Wuhan Metropolitan Area and Suzhou Industrial Park) are supported in adopting the “first enter zone, then customs declaration” model to realize a rapid customs clearance model for goods between ports and the zones under special customs surveillance in the pilot regions (Article 3).
Subject to relevant laws and regulations, the establishment of (sub-)branches in the pilot regions by foreign-funded banks and the establishment of Sino-foreign equity joint venture banks between private capital and foreign-funded financial institutions will be facilitated (Article 9).
Restrictions on the establishment of credit investigation companies in the pilot regions by Hong Kong and Macao service providers will be relaxed (Article 12).
Related legislation: PRC Regulations for the Administration of Foreign-invested Banks (2nd Revision)
clp reference:2100/17.04.07 issued:2017-04-07Issued: April 7 2017
Main contents: Qualified enterprises in zones under special customs surveillance in the pilot regions (the 12 pilot cities and regions of Jinan Municipality, Nanchang Municipality, Tangshan Municipality, Zhangzhou Municipality, Dongguan Municipality, Fangchenggang Municipality, Pudong New Area, Liangjiang New Area, Xixian New Area, Dalian Jinpu New Area, Wuhan Metropolitan Area and Suzhou Industrial Park) are supported in adopting the “first enter zone, then customs declaration” model to realize a rapid customs clearance model for goods between ports and the zones under special customs surveillance in the pilot regions (Article 3).
Subject to relevant laws and regulations, the establishment of (sub-)branches in the pilot regions by foreign-funded banks and the establishment of Sino-foreign equity joint venture banks between private capital and foreign-funded financial institutions will be facilitated (Article 9).
Restrictions on the establishment of credit investigation companies in the pilot regions by Hong Kong and Macao service providers will be relaxed (Article 12).
Related legislation: PRC Regulations for the Administration of Foreign-invested Banks (2nd Revision)
clp reference:2100/17.04.07 issued:2017-04-07This premium content is reserved for
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