China banks' regulator revises rules for foreign banks and investment

The move aims to further open the country’s banking sector.

China Banking Regulatory Commission (CBRC) unveiled revised rules in an effort to standardise and clarify procedures for the operation and investment of foreign banks into China.

According to a report from OCBC, the revised rules kicked into effect last February 13 after the CBRC first issued the draft late last year.

The more notable changes in the guidelines involve clarified procedures and application materials for foreign banks who invest in onshore Chinese banks. This will then serve as the legal basis for foreign banks to acquire ownership of banks in the Mainland.

CBRC also scrapped approval procedures for foreign banks in overseas wealth management products, custody and portfolio investment funds.

Lastly, the revisions also streamlined procedures for foreign banks to set up new branches, appoint new executives and issue bonds.

“The latest move underpins China’s commitment to further open up its banking sector,” said OCBC Investment Research.

Also Read

VPBank’s asset quality at risk amidst housing slowdown

Thailand’s Kiatnakin Phatra Bank’s loan portfolio to benefit from rising car prices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit