Laws of the People's Republic of China

The People's Bank of China

Circular of the People's Bank of China (PBC) on Alteration of the Application Forms for the Establishment of Commercial Presence in China by Foreign-capital Financial Institutions and Related Issuing Procedures

YinFa [1999] No.122

March 31, 1999

Branches and business management departments of the People's Bank of China:

With a view to further standardizing the examination and approval of foreign-capital financial institutions and improving the efficiency of examination and approval for those institutions, samples of the Application Form for the Establishment of Operations in China by Foreign-capital Financial Institutions and the Application Form for the Establishment of Permanent Representative Offices in China by Foreign-capital Financial Institutions (see the Attachments) are hereby printed and distributed to you. In addition, the issuing procedures for the application forms are adjusted as follows: the mode of issuing application forms upon the agreement in principle of the head office of PBC is replaced by that of issuing application forms the moment the foreign-capital financial institutions request for the establishment of branches or representative offices. All branches and business management departments, after review and examination, should submit all application materials including the applications forms together with the results of review and examination to the head office of PBC for further examination and approval. That is hereby notified.

Attachment I: Application Form for the Establishment of Operations in China by Foreign-capital Financial Institutions (omitted)

Attachment II: Application Form for the Establishment of Permanent Representative Offices in China by Foreign-capital Financial Institutions (omitted)