China Issues Detailed Rules Governing Foreign Financial Institutions

Home>>Business

Last updated at: (Beijing Time) Wednesday, January 30, 2002

China Issues Detailed Rules Governing Foreign Financial Institutions

China's central bank published Tuesday detailed rules for implementing the administrative ordinance governing overseas financial institutions in China.

DISCUSSION

CHINESE

SEND TO FRIEND

China's central bank published Tuesday detailed rules for implementing the administrative ordinance governing overseas financial institutions in China.

A spokesman for the People's Bank of China said that the rules provide detailed regulations on foreign financial institutions' establishment and registration, business scope, professional qualifications, supervision, liquidation and clearing.

The rules also provide specific regulations on foreign financial institutions' foreign exchange business, working capitaland other aspects.

The rules specify the penalties for practices that violate the rules.

The rules will be put into effect as of February 1, 2002.

Questions?Comments? Click here

Five Commitments on Foreign Financial Institutions' Entry into China

Regulations to Change for Foreign Financiers

Foreign Financial Institutions Thrive in Chinese Market