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China Eases Overseas Investor Access to Mainland Banking and Insurance Sectors

The China Banking and Insurance Regulatory Commission (CBIRC) has announced plans to introduce 12 additional liberalisation measures relating to the mainland’s banking and insurance sectors. 

Among the key changes, as outlined by CBIRC Chairman Guo Shuqing, are the following:

  1. Limits on the maximum shareholding in a Chinese commercial bank held by a Chinese-funded bank or a foreign-funded bank are to be abolished in accordance with the principle of equal treatment for domestic and overseas investors
  2. The requirement that an overseas bank has a minimum of US$10 billion in assets prior to establishing a wholly foreign-funded bank or US$20 billion prior to setting up a branch is to be rescinded
  3. Overseas financial institutions will no longer be required to hold a minimum of US$1 billion in total assets prior to investing in a Chinese trust company
  4. Overseas financial institutions will be permitted to invest in overseas-funded insurance companies operating on the mainland
  5. The requirement that overseas insurance brokerages looking to operate on the mainland have a prior trading history of 30 years and minimum assets of US$200 million is also to be rescinded

For further details (in Chinese), please access the following link:

Guo Shuqing on Further Opening of Banking and Insurance Sectors (1 May 2019)

Content provided by Picture: HKTDC Research
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