China to imminently liberalise foreign investment and market access in its banking sector

Following recent official statements on the liberalisation of China’s financial services sectors and initiatives to improve the Chinese regulatory environment under which foreign banks and their offshore parents operate, the CBRC, on 13 December 2017, published a statement on its website on the continuing foreign investment liberalisation and market access reform in the banking sector.

Although the reform needs to be accomplished through the release of formal rules, the CBRC’s statement is a welcome clarification of the reform intention and shows the regulatory impetus for specific rules to be imminently issued.

Read our report on the proposed liberalisation of China’s financial services sectors.