Banking and Finance Laws

The new QFII regulations mark another step in opening the securities markets further to foreign participation. Many new laws have made it apparent that the CSRC is committed to the path of financial reform and development.

This piece of legislation marks a significant development of China's securities markets as it opens up the A share and domestic bond markets to foreign investment for the first time. It lays down the application and qualification standards of QFII.

A circular on the principles, procedures and rules regarding the transfer of state-owned shares and legal person shares in Listed companies to foreign investors issued by the CSRC, MOF and SETC.

Promulgated: September 9 2002Effective: October 1 2002Applicability: These Measures apply to all financial institutions in the PRC except for financial…

Llinks Law Office In an attempt to further streamline China's foreign exchange regime, the State Administration of Foreign Exchange (SAFE) in September…

The Circular unifies conditions for wholly Chinese-owned enterprises and foreign-invested enterprises opening forex accounts for current account items.

Broadened auto financing market access and the new industry regulations.

Issued: September 18 2002Effective: as of date of issueInterpreting authority: People's Bank of ChinaApplicability: The Guidelines are applicable to both…

Issued: July 10 2002Effective: August 1 2002Main contents: The Circular adjusts and streamlines certain import and export verification and reconciliation…