CBRC seeks to help foreign banks expand their offering and strengthen their operations in China
The China Banking Regulatory Commission set out, in a new notice released last Friday, a range of measures aimed at providing new business opportunities and removing regulatory requirements for foreign banks in China. The benefits extend to locally incorporated banks as well as, where applicable, to foreign bank branches in China.
The new policy is expected to facilitate foreign banks’ efforts to serve corporate and retail clients in China through their international networks and cross-border expertise.
In this newsletter, we review the key aspects of, and some areas left for consideration by, the new policy.Read more