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Office of Financial Stability and Development Committee under the State Council promulgated 11 measures to further open up the financial sector to foreign investment on 20 July 2019.201972011
1. Permit foreign-funded institutions developing credit rating business in China to rate all types of bonds in inter-bank bond market and exchange bond market.1
2. Encourage overseas financial institutions to participate in the establishment of, or to make equity investment in, asset and wealth management subsidiaries of commercial banks.2
3. Permit overseas asset management institutions to co-establish financial management companies controlled by foreign parties jointly with subsidiaries of Chinese banks or insurers.3
4. Permit overseas financial institutions to establish or to make equity investment in pension management companies.4
5. Support foreign investors to establish or to make equity investment in wholly owned currency brokerage companies.5
6. Advance the transitional period during which the limit of the proportion of foreign shares in life insurers being raised from 51% to 100% to 2020 from the originally scheduled 2021.651%100%202120207. Abolish the provision that domestic insurance companies shall hold no less than 75% of the shares in any insurance asset management company in total, and permit overseas investors to hold over 25% of shares in such company.775%25%
8. Ease the access conditions for foreign insurers by removing the requirement of over-30-year operation.830
9. Advance the time point originally set for removing the foreign ownership cap on securities companies, fund management companies and futures companies by one year to 2020.920212020
10. Permit foreign-funded institutions to obtain a Class-A lead underwriting license in the inter-bank bond market.10A
11. Further facilitate foreign institutional investors' investment in the inter-bank bond market.11


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Measures for Further Opening up the Financial Sector

Tap "LegalTips"

to follow us

Office of Financial Stability and Development Committee under the State Council promulgated 11 measures to further open up the financial sector to foreign investment on 20 July 2019.201972011
1. Permit foreign-funded institutions developing credit rating business in China to rate all types of bonds in inter-bank bond market and exchange bond market.1
2. Encourage overseas financial institutions to participate in the establishment of, or to make equity investment in, asset and wealth management subsidiaries of commercial banks.2
3. Permit overseas asset management institutions to co-establish financial management companies controlled by foreign parties jointly with subsidiaries of Chinese banks or insurers.3
4. Permit overseas financial institutions to establish or to make equity investment in pension management companies.4
5. Support foreign investors to establish or to make equity investment in wholly owned currency brokerage companies.5
6. Advance the transitional period during which the limit of the proportion of foreign shares in life insurers being raised from 51% to 100% to 2020 from the originally scheduled 2021.651%100%202120207. Abolish the provision that domestic insurance companies shall hold no less than 75% of the shares in any insurance asset management company in total, and permit overseas investors to hold over 25% of shares in such company.775%25%
8. Ease the access conditions for foreign insurers by removing the requirement of over-30-year operation.830
9. Advance the time point originally set for removing the foreign ownership cap on securities companies, fund management companies and futures companies by one year to 2020.920212020
10. Permit foreign-funded institutions to obtain a Class-A lead underwriting license in the inter-bank bond market.10A
11. Further facilitate foreign institutional investors' investment in the inter-bank bond market.11


Tap "Read More" to visit our website

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