Measures for Opening-up of Banking & Insurance

On 3rd May, the China Banking and Insurance Regulatory Commission (CBRC) issued 12 new measures to expand the opening up of the banking and insurance. Foreign capital can freely choose to operate in China by means of equity participation, joint venture or sole proprietorship, so as to further promote fair competition between Chinese and foreign capital with abolishing the relevant restrictions on the ratio of foreign capital shares. Quantitative access requirements for institutions such as total assets should be abolished, and Prudential conditions should be used to assess applicants ‘qualifications comprehensively. Measures such as broadening the presence of foreign-funded businessesRead More →

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