New rules now allow commercial banks to establish fund management companies. What do the new rules mean for banks and how will this affect China's fund management industry?
The main focus of the Procedures is to administrate the relevant transactions and market risks brought by commercial banks that are shareholders of fund management companies.
The Circular aim to maintain the balance of payments and to ensure the compliant and orderly flow of cross-border capital. Local investors who wish to invest abroad with it sown domestic assets/equity shall obtain the verification of the foreign exchange administration.
Promulgated: December 29 2004Main contents: "Credit cards" provided in the Criminal Law refers to electronic payment cards issued by commercial banks or…
Issued: February 4 2005Effective: March 1 2005Applicability: In the event of a conflict between previous provisions and this Circular, this Circular shall…
Promulgated: December 7 2004Effective: December 15 2004Interpreting authority: People's Bank of China (PBOC)Applicability: The term "bonds" as used in…
Issued: February 5 2005Main contents: The Circular specifies the policies on value-added tax, consumption tax and enterprise income tax involved in the…
Issued: November 16 2004Effective: as of date of issueMain contents: Trust and investment companies shall keep trust funds and their own funds under separate…