State Council, Several Measures for the Promotion of Systemic Relaxation in Line with High International Standards in Qualified Pilot Free Trade Zones and Free Trade Ports on a Pilot Basis

国务院关于在有条件的自由贸易试验区和自由贸易港试点对接国际高标准推进制度型开放若干措施

July 11, 2023 | BY

Susan Mok

Foreign financial institutions are offered same treatment as domestic counterparts in free trade zones.

Issued: June 1, 2023

Main contents: Save for certain specific new financial services, if a Chinese-invested financial institution is permitted to engage in a certain new financial service, foreign1-invested financial institutions in the pilot area (here and hereinafter, referring to the Shanghai, Guangdong, Tianjin, Fujian and Beijing Free Trade Zones and the Hainan Free Trade Port) shall be permitted to engage in the same service (Article 13).

Enterprises registered in a pilot area and individuals working or living in a pilot area shall be permitted to purchase foreign financial services from outside mainland China in accordance with the law. The specific types of foreign financial services shall be specified separately by the financial regulator (Article 15).

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]