On May 9, 2020 the China Banking and Insurance Regulatory Commission (the “CBIRC”) published the Interim Measures on the Administration of the Online Lending of Commercial Banks (Consultation Paper) (the “Consultation Paper”) on its website, soliciting comments from the public officially.  As the Interim Measures on the Administration of the Online Lending of Commercial Banks is an important regulation to be promulgated, which, among others, is indicated in the legislative plan of the CBIRC in 2020, the release of the Consultation Paper would accelerate the promulgation and implementation thereof.
Continue Reading Consultation Paper Issued to Regulate CB’s Online Lending Biz

By Chen Yun (Robert) and Liang Yixuan King & Wood Mallesons’ Finance & Capital Markets group

2017 has been a busy year for Chinese regulators with the CBRC, CSRC and CIRC issuing dozens of decrees, circulars and rules aimed at cleaning up the country’s financial markets and controlling its financial risks. In particular, CBRC issued 8 circulars in just a few days from late March to early April, launching a strong regulatory campaign in the banking sector against what is known as the “3 (three types of violations) 3 (three types of arbitrages) 4 (four types of improper conducts)“.  
Continue Reading The knives are out – Penalties in the banking sector point towards a regulatory storm

By Armstrong Chen and Shen Di King & Wood Mallesons’ Dispute Resolution group

chen_armstrongThe National Security Law, effective as of July 1, 2015, states that “(the State shall) enhance network and information security protection capabilities, strengthen innovative research, development and application of network and information technology, achieve safe and controllable network and core information technology,

By Chen Yun, Janet Gu, Wang Rong King & Wood Mallesons’ Finance & Capital Market Group

O陈运n December 25, 2015, People’s Bank of China (PBOC) promulgated the Circular on Improving Individual Bank Account Services and Strengthening Account Management (the “New Individual Bank Account Circular”). In short, the New Individual

By King & Wood Mallesons’ Banking Group

On the 24th day of February 2012, China Banking Regulatory Commission (the "CBRC") issued the Green Credit Guidelines (the "Guidelines"), which require banking financial institutions ("Banks") to encourage energy saving, emission reduction and environment protection by managing environmental and social risk(1) of its client. The Guidelines apply to domestic policy banks, commercial banks, rural cooperation banks and rural credit cooperatives. In addition, village banks, loan companies, rural funding cooperatives and non-banking financial institutions shall also adopt the Guidelines to the extent applicable.

The Guidelines introduced some specific requirements in relation to the following aspects:

Continue Reading The Green Credit Guideline

作者:金杜律师事务所银行

2012年2月24日,中国银行业监督管理委员会(“银监会”)发布了《绿色信贷指引》(“《指引》”),要求银行业金融机构大力促进节能减排和环境保护,防范环境和社会风险(1)。《指引》适用于境内设立的政策性银行、商业银行、农村合作银行、农村信用社。村镇银行、贷款公司、农村资金互助社和非银行金融机构参照执行。《指引》对银行业金融机构在以下方面提出了一些具体的要求:

Continue Reading 绿色信贷指引

By King & Wood’s Finance Group

The China Banking Regulatory Commission (the "CBRC") issued Guiding Opinions of the China Banking Regulatory Commission on the Implementation of the New Regulatory Standards by the Chinese Banking Industry (Yin Jian Fa [2011] No. 44) (the "Guiding Opinion") on April 27, 2011, which clearly creates new rules for liquidity and capital held by banks in accordance with the "Basel Accord III" ("Basel III"), and on the basis of comprehensively assessing the effectiveness of the current prudent regulatory system, to improve the capital adequacy ratio, leverage ratio, liquidity, loan loss reserve and other regulatory standards. The four new regulatory standards for capital listed above will be implemented on January 1, 2012.

Continue Reading New Capital Requirements for Banks Postponed

作者:金杜律师事务所融资

中国银行业监督委员会(“银监会”)于2011年4月27日发布了《中国银监会关于中国银行业实施新监管标准的指导意见》(银监发[2011]44号)(“《指导意见》”),明确将根据《第三版巴塞尔协议(Basel III)》确定银行资本和流动性监管新制度,在全面评估现行审慎监管制度有效性的基础上,提高资本充足率、杠杆率、流动性、贷款损失准备等监管标准,并提出上述四项新资本监管标准从2012年1月1日开始执行。

Continue Reading 商业银行资本监管新规暂缓实施

by King and Wood’s Finance Group

Further to Circular No. 145, on 14 October 2011 PBOC released new rules on RMB FDI, the Measures on Administration of the RMB Settlement in relation to Foreign Direct Investment ("PBOC Rules") to roll out PBOC’s detailed management system.  The PBOC Rules cover all the FDI aspects denominated in RMB, including capital injection, payment of purchase price in the acquisition of PRC companies, repatriation of dividends and distribution as well as RMB denominated cross-border loans.  The PBOC Rules adopt similar methodology applied by SAFE to foreign currency FDI but appear to be more friendly.  On the same day, MOFCOM also issued a circular ("MOFCOM Circular") to clarify certain issues in relation to cross-border RMB FDI transactions.
We highlight the following aspects we deem of significance:

Continue Reading RMB FDI Goes to Fast Track

金杜律师事务所 融资

继银发(2011)145号文之后, 2011年10月14日中国人民银行就人民币外商直接投资出台新规则《外商直接投资人民币结算业务管理办法》(“人行办法”), 规定了有关人民币结算的具体操作。 人行办法涉及到以人民币进行外商直接投资的方方面面, 包括资本注入、并购中国企业购买价款的支付、股息和利润分配的汇出以及人民币跨境贷款。  人行办法延续了外管局对外汇直接投资的监管思路, 但程序更为简便。 同一天, 商务部也出台通知(“商务部通知”)规定了跨境人民币直接投资交易的相关问题。

我们认为比较重要的方面包括:

Continue Reading 人民币外商直接投资进入快车道