China strengthens its regulation on wealth management products - 24 April 2008
The China Banking Regulatory Commission (CBRC) has issued a notice to strengthen its regulation on wealth management products issued by banks in China. This follows on from the increase in customer complaints and disputes regarding new financial products that have recently entered the rapidly changing Chinese economic market.
China re-opens domestic capital markets to foreign investors – 26 February 2008
Following the third Sino-US Strategic Economic Dialogue (SED III) held on 13 December 2007, China has released two long-awaited rules and measures governing the re-opening of its domestic capital markets to foreign investors.
China opens RMB retail business to foreign banks from 11 December 2006 - 23 November 2006
China has issued new rules to govern foreign banks' activities in China from 11 December 2006. To participate in the potentially lucrative retail RMB (renminbi) business and bank card business foreign banks have to incorporate subsidiaries in China as wholly-owned banks or Sino-foreign joint venture banks. These conditions will require most international banks to radically restructure their operational structures in China.
"The firm has broadened its horizons over the last three years by focusing on expanding its capabilities in Asia…This has given the much-needed local know-how and legal expertise to exploit the numerous opportunities emanating from the Chinese marketplace.”
The Global 50, PLC Which Lawyer? Yearbook 2006