These measures impose further requirements on resident representative organizations in China of foreign insurance institutions, and facilitate the opening up of China's insurance market.
Detailed procedures for the establishment and dissolution of foreign-invested banks, scope and operation of renminbi business, and professional qualification requirements of some senior personnel are provided.
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.
This law aims to address the issue of money laundering in China and impose criminal liabilities on violators. A department of the State Council is in charge of overseeing anti-money laundering measures nation-wide.
This Circular addresses some of the issues in relation to foreign financial investments and asset management. The scopes of foreign exchange business and income are stipulated. Matters regarding the source of investment funds and their management are clarified.
The price of an IPO shall be ascertained by an approved inquiry recipient. The procedures and limitations regarding the sale and underwriting of securities are stipulated.
This Circular aims to enhance the investments of insurance capital. Insurance institutions may now invest in the equity of unlisted banks. Investment qualifications, withdrawal mechanism, and risk management are also covered.
Issuance of hybrid capital bonds now requires disclosure of various matters, which include the capital adequacy ratio for the past three years, business position, risk alert, and so on.