By Chen Yun (Robert), Wang Rong and Chai Beibei King & Wood Mallesons’ Finance & Capital Markets group
On February 13, 2018, the China Banking Regulatory Commission (the “CBRC”) promulgated the Decision on Amending the CBRC’s Implementation Measures for the Administrative Licensing Matters of Foreign-Invested Banks (CBRC Order 2018 No. 3, the “Order No.3”). Following a series of regulations and policies relating to opening-up of the banking industry issued in 2017 (the “2017 Regulations and Policies”), the Order No.3 is considered to be a further step of great significance for the purpose of implementing the general principles of further expanding opening-up, improving the levels of opening-up of the banking industry and streamlining administration and delegating more powers to lower-level authorities continuously.
Continue Reading Further Opening-up for Foreign-Invested Banks