Banking and Finance Laws

China Life Insurance (Group), one of China's biggest insurance groups, has announced plans to buy a 10% stake in Huishang Bank, the Asian Wall Street Journal…

Issued: September 21 2006Main contents: The Circular details the investment in the equity interests of commercial banks by insurance institutions regarding:(1)…

American private-equity firm Carlyle Group has increased its bid for part of Xugong Group Construction Machinery by 20%, reports the Financial Times. Carlyle…

Promulgated: November 11 2006Effective: December 11 2006Main contents: The Regulations comprise:Part One: General ProvisionsPart Two: Establishment and…

Promulgated: December 6 2006Effective: December 11 2006Interpreting authority: China Banking Regulatory Commission (CBRC)Applicability: These Guidelines…

Promulgated: October 31 2006Effective: January 1 2007Main contents: The Law comprises:Part One: General ProvisionsPart Two: Anti-money Laundering OversightPart…

Cinda Asset Management plans to securitize US$604 million of Bank of China's bad loans, reports the Financial Times. Cinda is a state-owned firm that specializes…

A comment by Wu Xiaoling, a People's Bank of China (PBOC) deputy governor, triggered the lowest US dollar fall in 19 months compared to the euro. Wu's…

These Regulations signify a big step towards opening to foreign investments in the PRC's banking industry. The establishment, registration, and business scope of foreign-invested banks are clearly set out.