administrative licensing

By Chen Yun & Wang Rong   King&Wood Mallesons’ Banking Group

On September 11, 2014, the China Banking Regulatory Commission (the “CBRC“) promulgated the Implementation Measures on Administrative Licensing Items for Foreign Funded Banks (the “New Measures“), substituting the Implementation Measures on Administrative Licensing Items for Foreign Funded Financial Institutions (the “Old Measures“) promulgated in 2006.

Comparing to the Old Measures, the New Measures have adjusted relevant provisions in compliance with the Administrative Regulations on Foreign Funded Banks and the Implementation Rules of the Administrative Regulations on Foreign Funded Banks. Since the category of foreign invested finance companies providing services to the general public is cancelled, the New Measures removed relevant clauses thereon. In addition, the New Measures have strengthened its coordination with the Administrative Measures for the Qualifications of Directors and Senior Management Personnel of Financial Institutions in the Banking Sector and the like.
Continue Reading CBRC Promulgated Implementation Measures on Administrative Licensing Items for Foreign Funded Banks