Publication,

CBRC’s new supervisory storm is here - Implications for foreign banks in China

AU | EN
Current site :    AU   |   EN
Australia
Belgium
China
China Hong Kong SAR
Germany
Italy
Japan
Singapore
Spain
UAE
United Kingdom
United States
Global

This article was written by Chen Yun (Robert), Andrew Fei and Wang Rong.

The China Bank Regulatory Commission (CBRC) has issued a set of new rules (Rules) aimed at:

    • controlling a broad range of risks in the financial system;
    • improving the regulatory and supervisory framework; and
    • ensuring that the banking sector better serves the real economy and national development policies.

What do you need to know?

  1. The Rules apply to both domestic banks and foreign banks in China. 
  2. In addition to introducing many new requirements and guidelines, the Rules also strengthen and reinforce a number of existing CBRC policies.
  3. The Rules are the latest in a series of policy and enforcement measures taken by Chinese financial regulators to address financial and systemic risks.
  4. The Rules represent the first major rulemaking under the leadership of newly appointed CBRC chairman GUO Shuqing.

Underlying problems

The CBRC has identified the following underlying problems that has led to irregularities in the banking and financial sector:

CBRC's New Supervisory Storm is Here

Download CBRC's New Supervisory Storm is Here for an overview of the key issues relevant to foreign banks operating in China.

LATEST THINKING
Insight
The Federal Court has refused an application to stay proceedings to quantify compensation for patent infringement (quantum proceedings) pending the outcome of separate parallel proceedings challenging the validity of the infringed patent on new grounds. The case is significant as intellectual property cases are regularly bifurcated with liability determined separately damages or an account of profits. A patentee may also bring consecutive infringement cases and therefore have two separate cases considering invalidity issues for the same patent running in parallel.

03 August 2022

Insight
Since the introduction of a nationwide Marketing Authorization Holder (MAH) system in 2019, licenses have linked directly to therapeutic products rather than manufacturers.

03 August 2022

Insight
The Bill is one of the first items of legislative change introduced by the Government in the industrial relations sphere, reflecting one of several election promises made under the “Secure Australian Jobs Plan”.

03 August 2022