Ministry of Finance, Measures for the Administration of Allocations by Financial Enterprises to Their Reserves
财政部金融企业准备金计提管理办法
Percentage of allocations to general reserves of financial enterprises raised to 1.5%.
Issued: March 30 2012
Effective: July 1 2012
Applicability: These Measures shall govern enterprises that engage in financial business, such as policy banks, commercial banks, trust and investment corporations, finance companies, lease financing companies, financial asset management companies, rural banks and urban and rural credit cooperatives, that have lawfully been established in the People's Republic of China with the approval of the China Banking Regulatory Commission (Financial Enterprises) (Article 2).
Main contents: In principle, the balance of the general reserve may not be less than 1.5% (previously 1%) of the period-end balance