Implementation Rules for the regulations on foreign banks

On December 25, the CBIRC promulgated the revised detailed rules for the implementation of the regulations on the administration of foreign banks, which shall come into force as of the date of promulgation. The implementation rules relaxed a number of market access issues for foreign banks: Conditions for foreign banks to set up subsidiaries and branches in China at the same time Cancel the approval of RMB business and the requirement for the total assets of foreign banks to set up institutions in China Branches of foreign banks should fully disclose deposit insurance information to customers; the RMB fixed depositRead More →

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