China Banking Regulatory Commission, Implementing Measures for the Administrative Permission Items of Foreign-funded Banks (Revised)

2. eliminate examination and approval for four items of business engaged in by foreign-funded banks, customer overseas wealth management business, customer overseas wealth management custody business, securities investment fund custody business and taking up of the interest-bearing assets of liquidated foreign-funded financial institutions, replacing it with a reporting system; and

3. further unify the market access criteria for foreign-funded and Chinese-invested banks: merge the examination and approval procedures for the preparation for establishment and commencement of business of sub-branches, retaining only the examination and approval of the commencement of business; improve the criteria for the offering of debt and capital supplementation instruments by foreign-funded banks; and simplify the procedure for reviewing the qualifications of senior management personnel, and move from prior approval to the record filing system for sideways transfers between establishments of a foreign-funded bank of similar nature and type or assignments to a lower position.