Regulations on the Management of Foreign Investment in the Banking Sector

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Article 1 These regulations are formulated in accordance with the "Regulations on the Administration of Foreign-funded Banks" (State Council Decree No. 268, 1994) and other relevant laws and administrative regulations, to further standardize the management of foreign investment in the banking sector, protect the legitimate rights and interests of foreign-funded banks, and promote the healthy development of the banking industry.

Article 2 These regulations apply to the establishment, merger, division, termination, and other matters concerning foreign-funded banks within the territory of the People's Republic of China.

Article 3 Foreign-funded banks refer to banks established within the territory of the People's Republic of China with foreign capital, including:

1. Wholly foreign-owned banks;
2. Sino-foreign joint venture banks;
3. Branches of foreign banks;
4. Representative offices of foreign banks;
5. Other foreign-funded financial institutions approved by the banking regulatory authority under the State Council.

Article 4 The establishment of foreign-funded banks shall comply with the provisions of these regulations and other relevant laws and administrative regulations.

Article 5 The banking regulatory authority under the State Council is responsible for the unified supervision and management of foreign-funded banks within the territory of the People's Republic of China.

Article 6 The establishment of a wholly foreign-owned bank or a Sino-foreign joint venture bank shall meet the following conditions:

1. The applicant is a financial institution established in accordance with the laws of its country of origin;
2. The applicant has been operating for more than 3 years;
3. The applicant has sound corporate governance structure and internal control systems;
4. The applicant has sound risk management systems;
5. The applicant has good credit standing and no record of major violations of laws and regulations;
6. The applicant has sufficient capital and other assets;
7. The applicant has qualified senior management personnel;
8. Other conditions prescribed by the banking regulatory authority under the State Council.

Article 7 The establishment of a branch of a foreign bank shall meet the following conditions:

1. The applicant is a financial institution established in accordance with the laws of its country of origin;
2. The applicant has been operating for more than 3 years;
3. The applicant has sound corporate governance structure and internal control systems;
4. The applicant has sound risk management systems;
5. The applicant has good credit standing and no record of major violations of laws and regulations;
6. The applicant has sufficient capital and other assets;
7. The applicant has qualified senior management personnel;
8. Other conditions prescribed by the banking regulatory authority under the State Council.

Article 8 The establishment of a representative office of a foreign bank shall meet the following conditions:

1. The applicant is a financial institution established in accordance with the laws of its country of origin;
2. The applicant has been operating for more than 3 years;
3. The applicant has sound corporate governance structure and internal control systems;
4. The applicant has sound risk management systems;
5. The applicant has good credit standing and no record of major violations of laws and regulations;
6. The applicant has qualified senior management personnel;
7. Other conditions prescribed by the banking regulatory authority under the State Council.

Article 9 The application for the establishment of a foreign-funded bank shall be submitted to the banking regulatory authority under the State Council. The banking regulatory authority under the State Council shall, within 6 months from the date of receipt of the complete application documents, make a decision on whether to approve the establishment.

Article 10 After the establishment of a foreign-funded bank is approved, the applicant shall, within 6 months from the date of receipt of the approval document, apply for the establishment license from the banking regulatory authority under the State Council. If the establishment is not completed within the prescribed time limit, the approval document shall become invalid.

Article 11 Foreign-funded banks shall, within 1 month from the date of receipt of the establishment license, apply for registration with the market regulation department and obtain the business license. Foreign-funded banks shall, within 10 working days from the date of receipt of the business license, apply for tax registration with the tax authority.

Article 12 Foreign-funded banks shall, within 30 days from the date of receipt of the business license, apply for the opening of foreign exchange accounts with the foreign exchange management department.

Article 13 The registered capital of a wholly foreign-owned bank or a Sino-foreign joint venture bank shall not be less than 1 billion RMB or its equivalent in convertible foreign currency. The registered capital shall be paid-in capital.

Article 14 The operating capital of a branch of a foreign bank shall not be less than 100 million RMB or its equivalent in convertible foreign currency. The operating capital shall be allocated by the head office.

Article 15 Foreign-funded banks shall comply with the provisions of the People's Republic of China on foreign exchange management. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 16 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 17 The banking regulatory authority under the State Council shall, in accordance with the provisions of these regulations, conduct on-site and off-site supervision of foreign-funded banks.

Article 18 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on accounting, establish accounting systems and keep accounting books.

Article 19 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on statistics, submit statistical reports to the banking regulatory authority under the State Council.

Article 20 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 21 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 22 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 23 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 24 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 25 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 26 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 27 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 28 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 29 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 30 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 31 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 32 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 33 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 34 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 35 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 36 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 37 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 38 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 39 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 40 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 41 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 42 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 43 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 44 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 45 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 46 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 47 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 48 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 49 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.

Article 50 Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business. Foreign-funded banks shall, in accordance with the provisions of the People's Republic of China on foreign exchange management, handle foreign exchange business.