The PRC Banking Regulation Law establishes a new banking supervision institution – the China Banking Regulatory Commission (CBRC) – to oversee the regulation for all banking institutions and activities in China. The CBRC's functions, responsibilities and authorities are detailed in the Law, which relates to, inter alia, drafting and promulgating regulations and rules, examining and approving establishment and changes of business scope, vetting bank's capital increases and funds, vetting directors and senior manager, enacting prudent operating procedures and standards, setting up a monitoring database on banks' activities and risks, on-site inspections, unified financial statements, risk rating and monitoring system, crisis management.
By Susan Finder with assistance from Peter Bazos, Freshfields Bruckhaus Deringer, Hong KongChina's current five-year plan (2001-2005) attests to the commitment…
Issued: November 17 2003Main contents: The Official Reply states that real property administrative authorities can revoke wrong cancellations of mortgage…
Issued: December 11 2003Main contents: The Notice allows foreign-invested property insurance companies to engage in all non-life insurance businesses other…
Issued: October 13 2003Main contents: The Decision states that the rates of export tax rebates are to be adjusted according to different types of products.…
Issued: October 20 2003Main contents: The Reply clarifies that the adjustment made by the Several Issues Concerning the Trial of Civil Dispute Cases Relating…
National LegislationConstitution and Legal SystemMinistry of Justice Announcement (No.21) (Two Foreign Law Firms Establishing Additional Representative…
Issued: October 24 2003Main contents: The Notice states that from December 1 2003 foreign-invested financial institutions may apply to engage in renminbi…
Issued: November 20 2003Main contents: The Notice elaborates on the criteria for providing domain name registration services mentioned in Article 12 of…
Promulgated: December 8 2003Effective: December 31 2003Interpreting authority: China Banking Regulatory Commission (CBRC)Applicability: "Offshore financial…