Lifting bans on foreign banks

March 18, 2015 | BY

clpstaff &clp articles

Foreign banks no longer require a representative office to set up subsidiaries or branches and foreign-invested banks no longer need to allocate minimum capital to set up branches in China

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The State Council released the PRC Regulations for the Administration of Foreign-invested Banks (2nd Revision) (2015 Regulations), which took effect January 1 2015 and lifts certain bans on foreign-invested banks in relation to their business activities and network expansion in