China is Taking Solid Steps to Open its Banking Sector

作者/编者:Chen Yun, Wang Rong and Liang Yixuan
作者单位:金杜律师事务所
创作年代:2018
出处/来源:金杜律师事务所
学科分类:经济法学
所属机构:金杜律师事务所
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摘要

After the promulgation of the State Council’s Decision on Amending the Regulations of the People’s Republic of China (“PRC”) on the Administration of Foreign Funded Banks (Consultation Paper) (the “Administrative Regulations Consultation Paper”) in late October 2018, the China Banking and Insurance Regulatory Commission released the Decision on Amending the Implementation Rules of the Regulations of the PRC on the Administration of Foreign Funded Banks (Consultation Paper) (the “Implementation Rules Consultation Paper”, together with the Administrative Regulations Consultation Paper, the “Consultation Papers”) on 28 November 2018 to solicit public opinions. The main purposes of amending these two legislations, which are of ultimate importance to the supervision of foreign funded banks are to put into practice the country’s opening-up policies in the banking sector, to make law to implement the opening-up measures in the banking sector, which have been repeatedly referred to by senior government officials in various summits and public speeches, and to further liberalize the foreign investment in China’s banking sector. This article will focus on the amendments made by the Consultation Papers.

关键词: Foreign Banks; RMB Business; Banking Sector

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