These Regulations signify a big step towards opening to foreign investments in the PRC's banking industry. The establishment, registration, and business scope of foreign-invested banks are clearly set out.
November 30, 2006
Full Text Translation
This law aims to address the issue of money laundering in China and impose criminal liabilities on violators. A department of the State Council is in charge of overseeing anti-money laundering measures nation-wide.
November 30, 2006This Circular addresses some of the issues in relation to foreign financial investments and asset management. The scopes of foreign exchange business and income are stipulated. Matters regarding the source of investment funds and their management are clarified.
November 30, 2006The price of an IPO shall be ascertained by an approved inquiry recipient. The procedures and limitations regarding the sale and underwriting of securities are stipulated.
November 30, 2006This Circular aims to enhance the investments of insurance capital. Insurance institutions may now invest in the equity of unlisted banks. Investment qualifications, withdrawal mechanism, and risk management are also covered.
November 30, 2006Issuance of hybrid capital bonds now requires disclosure of various matters, which include the capital adequacy ratio for the past three years, business position, risk alert, and so on.
October 31, 2006Disputes regarding back pay or breach of arbitration agreement may be brought to court directly as an ordinary civil dispute.
October 31, 2006The minimum duration of business establishment and assets for QFII status is clearly set out. Limitations on shareholding percentages of securities investments in China by foreign investors are imposed.
October 31, 2006Qualifications and approval of QFII status are set out in detail. Issues related to asset custody and fund management are also covered.
October 31, 2006Issuance of hybrid capital bonds now requires disclosure of various matters, which include the capital adequacy ratio for the past three years, business position, risk alert, and so on.
October 31, 2006