The China Banking Regulatory Commission (CBRC) published a draft of amendments for the Measures for the Administrative Licensing of Foreign Financial Institutions (that will be renamed “Measures for the Administrative Licensing of Foreign Banks). According to the proposed amendments, the registered capital of a foreign wholly-owned bank shall be at least 1 billion Chinese Yuan paid-in capital or an equivalent amount in a freely convertible currency, and for a joint venture bank, the required minimum registered capital shall be RMB 300 million or an equivalent amount in a freely convertible currency. The draft, which can be consulted in its Chinese version by downloading the file at the end of this post, will be open to public comment until 30 October 2014: such comments can be addressed to PRC authorities by the following means:

1) Via China Legislative Affair Office website (www.chinalaw.gov.cn);

2) Using the China Bank Regulatory Commission website (www.cbrc.gov.cn);

3) via email to the following address: yuanjin@cbrc.gov.cn;

4) to the following post address: 北京市西城区金融大街甲15号中国银监会银行三部邮编 100140

Once the final version of the Measures will be approved, we will post a more detailed analysis of its provisions.

Downloadable attachment: 中国银行业监管管理委员会外资银行行政许可事项实施办法(征求意见稿)

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