Photo of Ai Tong (CN)

On 10 March, 2017, the China Banking Regulatory Commission (CBRC) issued the Circular of the General Office of CBRC on Matters Concerning the Operation of Certain Businesses by Foreign-invested Banks (the Circular) which took immediate effect. The Circular removed certain restrictions and clarified uncertainties concerning the business operation of foreign-invested banks (FI Banks, which include foreign-invested legal entity banks and onshore branches of foreign banks) in China and presented promising business opportunities to FI Banks.

We summarise in this short note the major changes introduced by the Circular.

The People’s Bank of China has issued amended measures on the reporting of large-sum and suspicious transactions. The amended measures will take effect on 1 July 2017.

The amended measures substantially revise the existing regime and impose greater obligations on financial institutions in the reporting of large-sum and suspicious transactions.

Under the amended measures, financial

This article first appeared in the September 2014 issue of Asia Insurance Review

On 21 March 2014, China Insurance Regulatory Commission (CIRC) issued the Administrative Measures on the Acquisition and Merger of Insurance Companies (the Insurance M&A Measures) which has taken effect since 1 June 2014.

The Insurance M&A Measures apply to M&A activities where