Banking and Finance Laws

Issued: September 30 2013 Main contents: The Draft requires that proposed wholly foreign-owned banks and Sino-foreign equity joint venture banks have…

Private capital encouraged to set up joint venture banks with foreign investors in the free trade zone.

The Zone selects the financial services, shipping services, trade services, professional services, cultural services and social services sectors for increased liberalisation.

CSRC requires self-verification reports when approving re-financing applications from property enterprises.

The first consumer protection guidelines for the banking sector issued.

Cross-border renminbi transactions made easier.

Issued: August 9 2013 Main contents: The Draft relaxes the requirements for the establishment of banks with private capital. It lifts the 8% minimum…

Bank-securities company cooperation may not engage in fund pool business.

Forex control relaxed for QDII securities investments.