Banking and Finance Laws

Issued: November 30 2014Main contents: Deposit-taking banking financial institutions, such as commercial banks, rural cooperative banks and rural credit…

Non-bank financial institutions allowed in the interbank forex market.

FIEs allowed to convert their foreign exchange registered capital at their own discretion in pilot regions.

Policy relaxed on granting of the second housing mortgage loans.

Denning Xu of Shanghai Young-Ben Law Firm explores the regulatory status of China's asset managementindustry and compares the policies issued in the past 12 months by the banking, securities and insurancecommissions

Court order to freeze bank assets will be carried out more efficiently via networks.

Banks can no longer offer last minute interest rate increases to attract deposits.

SAFE relaxes forex control on cross-border provision of security to facilitate financing.

SAFE's new Circular has eased burdens for foreign-invested enterprises converting foreign exchange in their capital accounts into renminbi, but the rules around business scope still need to be clarified