China Banking and Insurance Regulatory Commission, Measures for the Administration of Banking and Insurance Institution Permits

中国银行保险监督管理委员会银行保险机构许可证管理办法

May 21, 2021 | BY

Susan Mok

New rules are set out for banking and insurance permits

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Promulgated: April 28, 2021

Effective: July 1, 2021

Main contents: Financial permits apply to policy banks, large banks, share system banks, urban commercial banks, private banks, foreign-invested banks, small and medium-sized rural banking institutions and other such banking institutions and their (sub-)branches as well as financial asset management companies, trust companies, enterprise group finance companies, financial leasing companies, auto finance companies, currency brokerages, consumer finance companies, bank wealth management companies, financial asset investment companies and other such non-bank financial institutions and their (sub-)branches.

Insurance permits apply to insurance group (holding) companies, insurance companies, insurance asset management companies and other such insurance institutions and their (sub-)