General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
December 13, 2017

CBRC is making changes to further open up the Chinese banking sector. CBRC is relaxing restrictions on the proportion of foreign ownership of Chinese banks and financial assets management companies other than private banks. It is implementing the same rules on the proportion of equity investments, both at home and abroad.

At the 19th Plenary Session of the 18th CPC Central Committee, it was proposed to set up a new system of an open economy. To this end, the implementation of the relevant opening-up policy requires the revision of existing laws and regulations and the regulatory system, the establishment and improvement of the corresponding prudential supervision mechanism and supporting measures, and the convergence of old and new policies. Key policy actions are as follows:

  • CBRC will relax the scope of business options for foreign banks and promote the diversification of the domestic financial system.
  • It expanded the operating space for foreign-funded banks, canceled the waiting period for RMB business of foreign-funded banks, supported foreign bank branches in engaging in government bond-related businesses, relaxed the requirements for RMB retail deposits held by foreign bank branches, supported foreign banks in financial market businesses, and increased the vitality of the financial system. 
  • It will optimize the regulatory rules, adjust the management requirements for operating capital of foreign bank branches and the regulatory assessment methods, and offer guidance on exerting the operating advantages and enhancing the competitiveness.

 

Related Link: Notification

Keywords: Asia Pacific, China, Banking, Securities, Opening Up Policy, Improving Prudential Supervision Mechanism, CBRC

Related Insights
News

EBA Finalizes Guidelines on the STS Criteria in Securitization

EBA published the final guidelines that provide a harmonized interpretation of the criteria for a securitization to be eligible as simple, transparent, and standardized (STS) on a cross-sectoral basis throughout EU.

December 12, 2018 WebPage Regulatory News
News

OSFI Sets Domestic Stability Buffer for D-SIBs at 1.75%

OSFI set the level for the Domestic Stability Buffer at 1.75% of total risk-weighted assets, as calculated under the Capital Adequacy Requirements (CAR) Guideline.

December 12, 2018 WebPage Regulatory News
News

FSI Publishes Paper on Proportionality in Insurance Solvency Rules

FSI published a paper on proportionality in the application of insurance solvency requirements.

December 11, 2018 WebPage Regulatory News
News

BCBS Updates Framework for Pillar 3 Disclosure Requirements

BCBS published the updated framework for Pillar 3 disclosure requirements.

December 11, 2018 WebPage Regulatory News
News

EBA Issues Revised List of Validation Rules for Reporting

EBA revised the list of validation rules in its implementing technical standards on supervisory reporting.

December 11, 2018 WebPage Regulatory News
News

IMF Reports Assess the Stability of Financial System in Brazil

IMF published a report on the results of the Financial System Stability Assessment (FSSA) on Brazil.

December 11, 2018 WebPage Regulatory News
News

FED Governor Examines Pros of Imposing Capital Buffers on Large Banks

At the Peterson Institute for International Economics in Washington D.C., the FED Governor Lael Brainard summarized the financial stability outlook, highlighted areas where financial imbalances seem to be building, and touched on the related policy implications.

December 07, 2018 WebPage Regulatory News
News

US Agencies Propose Rule on Appraisals for Real Estate Transactions

US Agencies (FDIC, FED, and OCC) proposed a rule to increase the threshold level at or below which appraisals would not be required for the residential real estate transactions from USD 250,000 to USD 400,000. Comments will be accepted for 60 days from publication in the Federal Register.

December 07, 2018 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for December 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A).

December 07, 2018 WebPage Regulatory News
News

FED Updates Reporting Form and Instructions for FR Y-14Q

FED published the updated reporting form FR Y-14Q for Capital Assessment and Stress Testing, along with the associated instructions.

December 06, 2018 WebPage Regulatory News
RESULTS 1 - 10 OF 2325