Banking and Finance Laws

• China considers creating financial watchdog

  China is considering establishing a new 'super regulator' to oversee its financial and banking industries, in a bid to improve coordination in a sector…

  October 01, 2006

• CMB quadruples IPO shares on offer

  China Merchants Bank's (CMB) initial public offering (IPO) was oversubscribed by 266 times when investors rushed to buy a share of the retail portion of…

  October 01, 2006

• Other Recent Legislation for this Month

  National LegislationACCOUNTINGEnterprise Accounting Guidelines No.33 Consolidated Financial Statements企业会计准则第33号 - 合幷财务报表L3100/06.02.15(33)Enterprise…

  September 02, 2006

• State Council, Several Opinions Concerning the Reform and Development of the Insurance Industry

  国务院关于保险业改革发展的若干意见

  Issued: June 15 2006Main contents: These Opinions seek to:- actively develop individual and group old-age pension insurance businesses;- encourage and…

  September 02, 2006

• Ministry of Commerce approves M&A share swaps

  From September 8 2006, share swaps will be allowed instead of cash payment when foreign companies merge with or acquire PRC companies, according to the…

  September 02, 2006

• China Banking Regulatory Commission, Circular on Matters Relevant to the Entry by Foreign-invested Banks into the Market for the Provision of Overseas Financial Management Services and Custodian Services on Behalf of Customers

  中国银行业监督管理委员会关于外资银行代客境外理财业务和托管业务市场准入事项的通知

  Issued: May 28 2006Main contents: The Circular specifies the procedures for foreign-invested banks applying to engage in the provision of overseas financial…

  September 02, 2006

• China Securities Regulatory Commission, Circular on Issues Relevant to Provisioning for Risk Reserves by Fund Management Companies

  中国证券监督管理委员会关于基金管理公司提取风险准备金有关问题的通知

  Issued: August 14 2006Effective: as of date of issueMain contents: Fund management companies shall provide for risk reserves from their fund management…

  September 02, 2006

• State Administration of Foreign Exchange, Circular on Issues Relevant to Revising Certain Foreign Exchange Control Policies Relating to Insurance Business

  关于调整部分保险业务外汇管理政策有关问题的通知

  Issued: May 23 2006 Effective: June 1 2006Main contents: The Circular allows insurance institutions to collect insurance premiums either in renminbi or…

  September 02, 2006

• People's Bank of China, Circular on Matters Relevant to the Entry of Money Brokers into the Interbank Market

  中国人民银行关于货币经纪公司进入银行间市场有关事项的通知

  Issued: July 6 2006Effective: as of date of issueMain contents: Money brokers shall, prior to entering the interbank market to engage in brokerage business,…

  September 02, 2006

• Shanghai Stock Exchange, Guidelines on Internal Controls of Listed Companies

  上海证券交易所上市公司内部控制指引

  Promulgated: June 5 2006Effective: July 1 2006Interpreting authority: Shanghai Stock ExchangeApplicability: The term "internal controls" refers to the…

  September 02, 2006