Free trade zone
Shanghai Office of the China Banking Regulatory Commission, Circular on the Trial Implementation of Banking Regulation Related Systems and Arrangements in the China (Shanghai) Pilot Free Trade Zone
上海银监局关于试行中国(上海)自由贸易试验区银行业监管相关制度安排的通知
The Circular expressly provides that when a national Chinese-invested commercial bank (excluding the Postal Saving Bank), local Shanghai bank, foreign-funded bank with legal personality and branch of a foreign bank establishes, changes or terminates an establishment at a level lower than branch in the Zone, the prior approval of the Shanghai Office of the China Banking Regulatory Commission is not required, with an after-the-event reporting system implemented instead, save in the case where a bank has not yet established a governing branch at the level of branch or above in the Zone.
Legislation roundup: Banking in the FTZ, insurance capitals in fund trust pools and M&A review committees
The CBRC issued regulations for banks in the Shanghai Free Trade Zone, the CIRC tightened capital requirements of pooled fund trust plans and the CSRC has set guidelines for review committees in listed companies' acquisition and restructuring
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