Banking and Finance Laws

Commercial banks are forbidden to be an enterprise shareholder.

Requires the disclosure of financial and accounting reports, risk management, corporate governance and largest shareholders, changes in registered capital, and M&A.

Clarifies the 2001 Tentative Procedures, particularly in its application, approval requirements, and the provision of additional online businesses.

Different rules on general provisions and class-specific provisions.

Relaxes the prior restriction against purchasing foreign exchange to pre-pay FX loans.

National LegislationConstitution and Legal SystemSupreme People's Court, Repeal of Relevant Judicial Interpretations Promulgated Before Late 2000 Catalogue…

The People's Bank of China (PBOC) issued the Relevant Questions in Implementing the Circular (the Circular) on April 22 2002. This legislation expands on the 2001 Commercial Bank Intermediary Services Tentative Provisions (the 2001 Provisions).

Foreign-funded VC investments in China have failed to materialize and last autumn's national regulations are widely seen as inadequate. So what alternatives do investors have?

The Provisions Relevant to the Implementation of the Circular (the Provisions) seek to clarify certain aspects of last year's Administration of Online Banking Services Tentative Procedures (the Procedures). New information have been added to the Procedures.