China to Tighten up Oversight of Financial Holding Companies

| BY

Marilyn Romero

New draft measures proposed by China’s central bank will mean some non-financial firms will be classified as financial holding companies and will require a license to operate.

PBOC

The People’s Bank of China, or PBOC, has recently released draft measures to tighten its oversight of financial holding companies as part of efforts to prevent risks to the financial sector. In a statement on its website, the PBOC said it noted how numerous non-financial companies have engaged in a “blind expansion” into the financial sector, leading to mounting risks.

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]