Circular on Matters Relevant to Further Relaxing Market Access for Foreign-funded Banks
关于进一步放宽外资银行市场准入有关事项的通知
Foreign banks allowed more new businesses
Yin Bao Jian Ban Fa
1 . A branch of a foreign bank may commence in accordance with the law to engage in the business of offering on an agency basis, redeeming on an agency basis and underwriting government bonds without the administrative permission of the State Council's banking regulator. It shall submit a report thereon to the regulator within five working days after commencing such business.
(中国银行保险监督管理委员会办公厅于二零一八年四月二十七日发布。)
A wholly foreign-owned bank or a Sino-foreign equity joint venture bank may commence in accordance with the law to engage in the business of offering on an agency basis, redeeming on an agency basis and underwriting government bonds without the administrative permission of the State Council's banking regulator. It shall submit a report thereon to the regulator within five working days after commencing such business.
银保监办发〔2018〕16号
If a foreign-funded bank that commences the business described in the preceding paragraphs is required in accordance with the law to secure the permission of another department, it shall handle matters in accordance with the relevant provisions. The underwriting of government bonds specified in the preceding paragraphs includes the underwriting of bonds offered in China by foreign governments.
各银监局,外资银行：
2 . If a foreign bank has established multiple branches in China and the managing branch has secured approval to engage in renminbi business, such managing branch may perform its management duties and, subject to assessing and ensuring that other branches in China that propose to engage in renminbi business satisfy the conditions, authorize such branches to engage in renminbi business.
为进一步扩大银行业对外开放，提升外资银行营商便利度，现就外资银行市场准入有关事项通知如下：
A branch that has been authorized by the managing branch to engage in renminbi business shall complete renminbi business preparatory work in accordance with regulations, and may only engage in renminbi business after submitting a report to the local agency of the State Council's banking regulator.
一、外国银行分行可以依法开展代理发行、代理兑付、承销政府债券业务，无需获得国务院银行业监督管理机构的行政许可，应在开展业务后5个工作日内向监管机构报告。
3 . If a foreign bank has established multiple branches in China and the managing branch has secured approval to engage in derivatives trading business, such managing branch may perform its management duties and, subject to assessing and ensuring that other branches in China that propose to engage in derivatives trading business satisfy the conditions, authorize such branches to engage in derivatives trading business.
外商独资银行、中外合资银行可以依法开展代理发行、代理兑付、承销政府债券业务，无需获得国务院银行业监督管理机构的行政许可，应在开展业务后5个工作日内向监管机构报告。
A branch that has been authorized by the managing branch to engage in derivatives trading business shall satisfy relevant provisions on the engagement in derivatives trading business by banking financial institutions, and may only commence engaging in derivatives trading business after submitting a report and providing the letter of authorization issued by the managing branch and the materials required for engaging in derivatives trading business to the local agency of the State Council's banking regulator.
外资银行开展前款业务，依法应获得其他管理部门许可的，依照相关规定办理。前款规定的承销政府债券，包括承销外国政府在中国境内发行的债券。
4 . The operating capital allocated to branches in China by a foreign bank shall be calculated in aggregate. When establishing an additional branch, if the total of the operating capital calculated in aggregate satisfies the minimum amount and the requirements of regulatory indicators, the foreign bank may authorize a branch in China to allocate the operating capital to the newly established branch in accordance with regulations.
二、外国银行在中国境内设立多家分行的，如管理行已获准经营人民币业务，该管理行可以履行管理职责，在评估并确保中国境内其他拟经营人民币业务的分行满足条件的前提下，授权其开办人民币业务。
5 . A wholly foreign-owned bank, Sino-foreign equity joint venture bank or foreign bank branch that engages in the aforementioned operational and management activities shall strengthen the development of its rules and regulations, the development of its systems, compliance management and risk control, and enhance its comprehensive financial service level. The managing branch in China of a foreign bank shall strengthen its management of the other branches in China of the foreign bank. If a major matter is encountered, the same shall be reported to the regulator in a timely manner.
clp reference:3610/18.04.27issued:2018-04-27经管理行授权经营人民币业务的分行应依照法规规定完成人民币业务筹备工作，向国务院银行业监督管理机构属地派出机构报告后，方可经营人民币业务。
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