The Regulations on the Administration of Foreign Banks in People's Republic of China (PRC) came into effect on June 65438+February 65438+February 065438+ 10, 2006. 200165438+On February 20th, the State Council promulgated the Regulations on the Administration of Foreign-funded Financial Institutions in People's Republic of China (PRC), which shall be abolished at the same time.
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Article 8 of the Regulations on the Administration of Foreign-funded Banks in People's Republic of China (PRC), the minimum registered capital of a wholly foreign-funded bank or a Sino-foreign joint venture bank is 654.38 billion yuan or its equivalent in a freely convertible currency. Registered capital shall be paid-in capital. Branches of wholly foreign-owned banks and Sino-foreign joint venture banks established in People's Republic of China (PRC) shall be allocated working capital by their head offices in RMB or freely convertible currencies. The sum of the working capital allocated by wholly foreign-owned banks and Sino-foreign joint venture banks to each branch shall not exceed 60% of the total capital of the head office.
A branch of a foreign bank shall be allocated by its head office the working capital of not less than 200 million yuan or the equivalent in a freely convertible currency. According to the business scope of foreign-funded banking institutions and the need of prudential supervision, the banking supervision institution of the State Council may raise the minimum amount of registered capital or working capital and stipulate the RMB share.
Fujian Provincial Government-65438+February 1 1: China's banking industry will be fully open.