Foreign Invested Banks Biz Expanded

By Chen Yun, Wang Rong, Liang Yixuan King & Wood Malleosns’ Finance & Capital Markets grop

chen_yunOn March 10, 2017, the General Office of the China Banking Regulatory Commission (“CBRC“) promulgated the Circular on Carrying on Certain Businesses by Foreign Invested Banks (Yin Jian Ban Fa [2017] No.12, the “Circular“), clarifying certain business areas foreign invested banks may be allowed to engage in.  In the previous regulatory regime, it is unclear whether foreign invested banks may undertake businesses in such areas.  This Circular is intended to encourage foreign invested banks to explore the advantages of their global service networks and to provide comprehensive financial services to those Chinese enterprises in their endeavors to expand their businesses globally.
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