Global

Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 1/8/2013

China - Summary of late-2012 developments affecting financial sector 

January 8:  A summary of late-2012 developments in China concerning the financial sector include the following items:
  • Circular from Ministry of Finance (MOF) on soliciting public opinion on the extension and classification standards for the banking sector based on the general classification criteria of accounting standards for business enterprises (exposure draft) – Cai Ban Hui [2012] No.36
  • Circular from China Banking Regulatory Commission (CBRC) on measures for managing agricultural loans – Yin Jian Fa [2012] No. 50
  • Circular from Shanghai Bureau of CBRC on pilot measures for supervising foreign banks in Shanghai based on their classification
  • Circular from State Administration of Foreign Exchange on further improving and adjusting the foreign exchange management policies on direct investments – Hui Fa [2012] No. 59
  • Circular from the General Office of CBRC on strengthened regulations on banking business of acceptance bills – Yin Jian Ban Fa [2012] No. 286
  • Circular from CBRC on issues related to transition arrangement for implementation of measures to manage commercial banks’ capital (trial) – Yin Jian Fa [2012] No. 57
  • Circular from MOF on issuing the administrative measures for state-owned financial enterprise annuities – Cai Jin [2012] No.159
  • Circular from MOF on revising the filing of financial institutions’ flash financial report – Cai Jin [2012] No. 140
  • Circular from People’s Bank of China on the issuance of the master agreement for bond repurchase transactions in China’s interbank market – PBOC Circular [201] No.17
  • Circular from MOF on the deed tax policy on business entities’ finance-driven sale and leaseback transactions – Cai Shui [2012] No.82

Read the October-December 2012 report [PDF 512 KB] prepared by the KPMG member firm in China: China Financial Regulation Alert – Banking





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