作者:陈运 汪镕 梁宜萱 金杜律师事务所

继2018年10月底发布《国务院关于修改〈中华人民共和国外资银行管理条例〉的决定(征求意见稿)》(“《条例(征求意见稿)》”)后,中国银行保险监督管理委员会(“银保监会”)于11月28日发布了《关于修改〈中华人民共和国外资银行管理条例实施细则〉的决定(征求意见稿)》(“《细则(征求意见稿)》”,与《条例(征求意见稿)》合称“征求意见稿”),并向社会公众征求意见。 Continue Reading 银行业对外开放逐步落到实处

By Stanley Zhou, Janet Gu and Leimin Yu 金杜律师事务所金融资本部

Nowadays payment service is increasingly interweaving into commerce and the Internet in China. Its role as the last-mile infrastructure provider connecting the two arenas for many business models is increasingly being appreciated by the market. Not long ago, China’s payment sector was, by and large, not accessible to foreign players, although many foreign players wish to enter into the rapidly growing Chinese payment market and many domestic payment service providers wish to have certain foreign participation as a way to gain access to the offshore capital market. Continue Reading Opportunities and Challenges Presented by Foreign Investment to Domestic Payment Industry

作者:周昕 王晓雪 黄建贤 金杜律师事务所金融资本部

On 10 April 2018, President Xi Jinping made a keynote speech at the opening ceremony of the Boao Forum for Asia Annual Conference 2018. He announced that China will significantly ease market access, including in the financial sector.  The next day, the People’s Bank of China Governor Yi Gang presented multiple measures for further opening up the financial sector and the timeline for doing so. This marks a new chapter in China’s opening-up of its financial market. It will bring new business opportunities for foreigners investing in financial institutions in China. Foreign-funded financial institutions will be treated equally with Chinese financial institutions in terms such as business scope and applications for certain licenses. We believe that foreign investors will enjoy more investment opportunities in domestic financial institutions.

Continue Reading Where are the Opportunities for Foreign Investors?

作者:周昕 虞磊珉 金杜律师事务所金融资本部

近日, 经国务院批准, 中国人民银行发布并自即日实施《中国人民银行公告〔2018〕第7号》(以下简称《公告》), 明确外商投资支付机构的准入和监管政策, 在境内外支付行业中引发广泛关注。随着传统商业场景与互联网场景的深入结合, 第三方支付机构(以下简称“支付机构”)作为商业模式”最后一公里”设施提供方之一, 其价值也受到了市场的热捧, 越来越多的外资机构希望进入中国支付服务市场, 同时境内支付机构开展境外资本运作的意愿也空前高涨。本文简要分析中国支付服务市场准入监管现状, 外资关注的支付业务类别与《公告》内容, 对外商投资境内支付机构所需关注的监管事项与面临的挑战予以着重分析。 Continue Reading 金融市场对外开放 | 外商投资境内支付机构的机遇和挑战

作者:金杜律师事务所

金杜近日发布的《中国债券市场对外开放》一文收到了极其热烈的回应。本文系金杜为回答各位发行人及其顾问所提问题所作的补充。

有哪些监管机构?

中国债券市场由交易所债券市场和银行间债券市场组成。一般而言,交易所债券市场由中国证监会监管,而银行间债券市场则由中国银行间市场交易商协会在中国人民银行监督指导下进行监管。

目前,境外实体大多通过银行间债券市场在境内发行人民币债券。在银行间债券市场,中国人民银行批准境外金融机构在中国发行人民币债券,而中国银行间市场交易商协会(在中国人民银行的指导下)则负责批准主权发行人和非金融企业(公司)在境内发行人民币债券的注册。

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