By Mark Schaub, Partner, Corporate, King & Wood Shanghai
On May 19, 2010, the People’s Bank of China (“PBOC”) issued a new set of regulations for online payment service providers that will take effect on September 1, 2010. The new regulations bring payment services within the banking regulatory scheme.
Continue Reading China Retailers Beware…New Payment Restrictions may Impact your Revenue Channels!
By Mark Schaub, Partner, Corporate, King & Wood – Shanghai
Three consumer credit companies have obtained regulatory approval for their establishment from the China Banking Regulatory commission (CBRC). The main shareholder in each of these consumer credit companies are domestic banks namely Bank of China (BOC), Bank of Beijing and Bank of Chengdu.Continue Reading Days of Easy Credit Dawning? Consumer Credit Companies Arrive in China