State Council, Decision on Revising the «PRC Regulations for the Administration of Foreign-invested Banks» (Draft for Comments)

国务院关于修改〈中华人民共和国外资银行管理条例〉的决定 (征求意见稿)

November 07, 2018 | BY

Susan Mok

Issued: October 25 2018 Main contents: A foreign bank may simultaneously establish a wholly foreign-owned bank and a foreign bank branch,…

Promulgated: 2018-10-25

Issued: October 25 2018

Main contents: A foreign bank may simultaneously establish a wholly foreign-owned bank and a foreign bank branch, or simultaneously establish a Sino-foreign equity joint venture bank and a foreign bank branch in China.

A foreign bank branch may attract term deposits of not less than Rmb500,000 from citizens in China.

A foreign-invested bank may act as agent in an offering or redemption or in the underwriting of government bonds.

| issued:2018-10-25

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