Banking and Finance Laws

Promulgated: October 18 2004Effective: November 1 2004Interpreting authority: People's Bank of ChinaApplicability: "Short-term bonds of securities companies"…

By Roy Zhang and Allen [email protected];[email protected] in the global financing of a multinational group, the…

Relaxed requirements for foreign invested financial institutions in renminbi business, profitability requirement, branch office establishment and starting insurance agency service.

A financial institution is required to transfer the reserve deposit to designated accounts every month. The foreign exchange reserve deposit ratio is unified at 3%.

Allows insurance companies and insurance asset management companies to directly purchase and trade renminbi-denominated common stock, and to directly purchase convertible corporate bonds and other specified investment product.

Definition for investment in and establishment of enterprises overseas by PRC companies, and the administrative responsibilities of Ministry of Commerce.

Qualifications for NDRC-commissioned investment management consultations.

By Snow Chen and Andrew [email protected]; [email protected] the backdrop of China's real property bubble, the China…

National LegislationConstitution and Legal SystemMinistry of Justice Announcement (No.35): 35 Mainland Representative Offices of Hong Kong Law Firms Approved…