Measures for the Administration of Equity Investment by Overseas Financial Institutions in Chinese-Funded Financial Institutions

境外金融机构投资入股中资金融机构管理办法

 

Promulgating Institution: China Banking Regulatory Commission

Document Number: Order No. 6 of the China Banking Regulatory Commission

Promulgating Date: 12/05/2003

Effective Date: 12/31/2003

 

颁布机关: 中国银行业监督管理委员会

文      号: 中国银行业监督管理委员会令2003年第6号

颁布时间: 12/05/2003

实施时间: 12/31/2003

 

 Article 1   These Measures are formulated with a view to regulating equity investment by overseas financial institutions in Chinese-funded financial institutions and optimizing the capital structures of Chinese-funded financial institutions.

       第一条  为规范境外金融机构投资入股中资金融机构的行为,优化中资金融机构资本结构,制定本办法。

  Article 2   These Measures shall apply to equity investment by overseas financial institutions in Chinese-funded financial institutions established in accordance with the law.

For the purposes of these Measures, "overseas financial institutions" include international financial institutions and foreign financial institutions. "International financial institutions" shall mean the World Bank and its affiliates, inter-governmental development-oriented financial institutions and other international financial institutions recognized by the China Banking Regulatory Commission; and "foreign financial institutions" shall mean such financial holding companies, commercial banks, securities companies, insurance companies and funds as are incorporated outside the territory of China, as well as other foreign financial institutions recognized by the China Banking Regulatory Commission.

For the purposes of these Measures, "Chinese-funded financial institutions" shall mean such Chinese-funded commercial banks, urban credit cooperatives, rural credit cooperatives, trust and investment companies, financial companies of enterprise groups and financial leasing companies established within the territory of China in accordance with the law, as well as other Chinese-funded financial institutions established upon the approval of the China Banking Regulatory Commission.

For the purposes of these Measures, "equity investment proportion" shall mean the proportion between the amount of the capital contributions made or shares held by overseas financial institutions and the amount of the paid-in capital or total shares of Chinese-funded financial institutions.

       第二条  境外金融机构向已依法设立的中资金融机构投资入股,适用本办法。

    本办法所称的境外金融机构包括国际金融机构和外国金融机构,国际金融机构是指世界银行及其附属机构、其他政府间开发性金融机构及中国银行业监督管理委员会认可的其他国际金融机构;外国金融机构是指在外国注册成立的金融控股公司、商业银行、证券公司、保险公司、基金及中国银行业监督管理委员会认可的其他外国金融机构。

    本办法所称的中资金融机构是指依法在中国境内设立的中资商业银行、城市信用社、农村信用社、信托投资公司、企业集团财务公司、金融租赁公司,以及中国银行业监督管理委员会批准设立的其他中资金融机构。

    本办法所称的投资入股比例是指出资额或者所持股份占中资金融机构的实收资本总额或者股份总额的比例。

  Article 3   The China Banking Regulatory Commission shall conduct supervision and administration of equity investment of overseas financial institutions in Chinese-funded financial institutions in accordance with the law.

       第三条  中国银行业监督管理委员会依法对境外金融机构投资入股中资金融机构的行为进行监督管理。

  Article 4   Equity investment by overseas financial institutions in Chinese-funded financial institutions shall be subject to approval of the China Banking Regulatory Commission.

       第四条  境外金融机构投资入股中资金融机构,应当经中国银行业监督管理委员会批准。

  Article 5   Overseas financial institutions shall make equity investment in Chinese-funded financial institutions pursuant to the principle of good faith, with the intention of medium and long-term investment.

       第五条  境外金融机构向中资金融机构投资入股,应当基于诚实信用并以中长期投资为目标。

  Article 6   Overseas financial institutions' equity investment in Chinese-funded financial institutions shall be made in the form of monetary property.

       第六条  境外金融机构投资入股中资金融机构应当用货币出资。

  Article 7   To make equity investment in Chinese-funded financial institutions, overseas financial institutions shall meet the following requirements:

(1) In case of equity investment in Chinese-funded commercial banks, the year-end total assets of the overseas financial institutions in the most recent year in principle shall not be less than USD 10 billion; in case of equity investment in Chinese-funded urban or rural credit cooperatives, the year-end total assets in the most recent year in principle shall not be less than USD 1 billion; in case of equity investment in Chinese-funded non-banking financial institutions, the year-end total assets in the most recent year in principle shall not be less than USD 1 billion;

(2) The overseas financial institutions received good long-term credit scores issued by international credit rating agencies in the immediately preceding two years while the said credit rating agencies are recognized by the China Banking Regulatory Commission;

(3) The overseas financial institutions have remained profitable in the last two consecutive accounting years;

(4) The capital adequacy ratio of commercial banks is not less than 8%; the total capital of non-banking financial institutions is not less than 10% of the total risk-weighted assets;

(5) The internal control system is sound;

(6) The regulatory system of financial institutions at the location of registration is well established;

(7) The economic standing of the countries (regions) where such institutions are located is sound; and

(8) Other prudential conditions stipulated by the China Banking Regulatory Commission.

The China Banking Regulatory Commission may, in view of the risks in the financial industry and regulatory needs, adjust the requirements on the qualifications for overseas financial institutions to make equity investment in Chinese-funded financial institutions.

       第七条  境外金融机构投资入股中资金融机构,应当具备下列条件:

    (一)投资入股中资商业银行的,最近一年年末总资产原则上不少于100亿美元,投资入股中资城市信用社或农村信用社的,最近一年年末总资产原则上不少于10亿美元;投资入股中资非银行金融机构的,最近一年年末总资产原则上不少于10亿美元;

    (二)中国银行业监督管理委员会认可的国际评级机构最近两年对其给出的长期信用评级为良好;

    (三)最近两个会计年度连续盈利;

    (四)商业银行资本充足率不低于8%;非银行金融机构资本总额不低于加权风险资产总额的10%;

    (五)内部控制制度健全;

    (六)注册地金融机构监督管理制度完善;

    (七)所在国(地区)经济状况良好;

    (八)中国银行业监督管理委员会规定的其他审慎性条件。

    中国银行业监督管理委员会根据金融业风险状况和监管需要,可以调整境外金融机构投资入股中资金融机构的资格条件。

  Article 8   The equity investment made by a single overseas financial institution purchases in a Chinese-funded financial institution shall not exceed 20% of the total number of shares thereof.

       第八条  单个境外金融机构向中资金融机构投资入股比例不得超过20%。

  Article 9   Where the gross equity investment made by a number of overseas financial institutions in a non-listed Chinese-funded financial institution reaches or exceed 25% of the total number of shares thereof, such non-listed Chinese-funded financial institution shall be regulated as a foreign-funded financial institution.

Where the gross equity investment made by a number of overseas financial institutions in a listed Chinese-funded financial institution reaches or exceed 25% of the total number of shares thereof, such listed Chinese-funded financial institution shall be regulated as a Chinese-funded financial institution.

       第九条  多个境外金融机构对非上市中资金融机构投资入股比例合计达到或超过25%的,对该非上市金融机构按照外资金融机构实施监督管理。

    多个境外金融机构对上市中资金融机构投资入股比例合计达到或超过25%的,对该上市金融机构仍按照中资金融机构实施监督管理。

  Article 10   When an overseas financial institution makes equity investment in a Chinese-funded financial institution, the Chinese-funded financial institution that absorbs such investment shall file an application with the China Banking Regulatory Commission:

(1) Where wholly State-owned commercial banks, joint stock commercial banks and non-banking financial institutions under the direct supervision of the China Banking Regulatory Commission intend to absorb the equity investment by overseas financial institutions, they shall file applications with the China Banking Regulatory Commission for approval;

(2) Where Chinese-funded financial institutions other than those specified in Item (1) of the present article intend to absorb the equity investment by overseas financial institutions, they shall file applications with provincial-level local offices of the China Banking Regulatory Commission of the places where they are located, and submit such applications to the China Banking Regulatory Commission for approval upon the verification of the relevant local offices.

       第十条  境外金融机构投资入股中资金融机构,由吸收投资的中资金融机构作为申请人,向中国银行业监督管理委员会提出申请:

    (一)国有独资商业银行、股份制商业银行及中国银行业监督管理委员会直接监管的非银行金融机构吸收境外金融机构投资入股的,直接向中国银行业监督管理委员会申请批准;

    (二)本条第一项规定以外的中资金融机构吸收境外金融机构投资入股的,向所在地中国银行业监督管理委员会省级派出机构提出申请,经审核后报中国银行业监督管理委员会批准。

  Article 11   Where Chinese-funded financial institutions file applications with the China Banking Regulatory Commission to absorb equity investment, they shall submit the following materials:

(1) Written applications for equity investment absorption by Chinese-funded financial institutions;

(2) Resolutions adopted by the general meetings of shareholders or the boards of directors of Chinese-funded financial institutions, approving the absorption of equity investment, or approval documents issued by the relevant competent departments;

(3) Resolutions adopted by the general meetings of shareholders or the boards of directors of overseas financial institutions, approving the equity investment in Chinese-funded financial institutions;

(4) Agreements of intent signed between the two sides;

(5) Annual reports for the last three years or such audited financial statements as balance sheets and profit and loss statements of the overseas financial institutions;

(6) Materials stating the sources of capital, business operation status, and other relevant information pertaining to the overseas financial institutions; and

(7) Other relevant materials specified by the China Banking Regulatory Commission.

Where the investors are foreign financial institutions, the Chinese-funded financial institutions shall submit to the China Banking Regulatory Commission the credit rating reports on such foreign financial institutions for the last two years, which are issued by international rating agencies recognized by the China Banking Regulatory Commission, , as well as approval documents issued by the financial regulatory authorities at the places where the foreign financial institutions are located.

       第十一条  中资金融机构向中国银行业监督管理委员会提出吸收投资入股申请时,应提交下列文件:

    (一)中资金融机构吸收投资入股的申请书;

    (二)中资金融机构股东大会或董事会同意吸收投资的决议或上级主管部门的批准文件;

    (三)境外金融机构股东大会或董事会同意向中资金融机构投资入股的决议;

    (四)双方签订的意向性协议;

    (五)境外金融机构最近三年的年报或经审计的资产负债表、利润表等财务报表;

    (六)境外金融机构的资金来源、经营情况等资料;

    (七)中国银行业监督管理委员会要求的其他相关资料。

    投资人为外国金融机构的,中资金融机构还应当提交经中国银行业监督管理委员会认可的国际评级机构对该外国金融机构最近两年的评级报告和注册地金融监管当局的批准文件。

  Article 12   The China Banking Regulatory Commission shall decide to approve or disapprove the applications within three months of the receipt of the application materials, and notify the applicants in writing in the case of disapproval and provide reasons therefor.

       第十二条  中国银行业监督管理委员会自接到完整的申请文件之日起3个月内作出批准或不批准的决定;决定不批准的,应当书面通知申请人并说明理由。

  Article 13   Overseas financial institutions shall, within sixty working days of receiving the approvals of the China Banking Regulatory Commission, transfer the capital in its entirety into the accounts of Chinese-funded financial institutions, which shall be verified by accounting firms recognized by the China Banking Regulatory Commission.

       第十三条  境外金融机构应当在收到中国银行业监督管理委员会的批准决定后60个工作日内将资金足额划入中资金融机构账户,并经中国银行业监督管理委员会认可的会计师事务所验证。

  Article 14   Where Chinese-funded financial institutions alter their registered capital or equity structures on due to the absorption of equity investment by overseas financial institutions, they shall go through formalities for alteration of registration pursuant to relevant provisions.

       第十四条  中资金融机构因境外金融机构投资入股而变更注册资本或股权结构的,应当依照有关规定办理变更手续。

  Article 15   Where Chinese-funded financial institutions, in violation of these Measures, arbitrarily alter shareholders or adjust equity structures, the China Banking Regulatory Commission shall impose punishment thereon pursuant to relevant provisions.

       第十五条  中资金融机构违反本办法,擅自变更股东、调整股权结构的,由中国银行业监督管理委员会根据有关规定予以处罚。

  Article 16   Where overseas financial institutions increase their shareholding proportion in the Chinese-funded financial institutions, these Measures shall apply.

       第十六条  已向中资金融机构投资入股的境外金融机构增加持股比例的,适用本办法有关规定。

  Article 17   Unless otherwise provided by the State Council, these Measures shall apply to the equity investment in Chinese-funded financial institutions by financial institutions located in Hong Kong, Macau and Taiwan region.

       第十七条  香港、澳门和台湾地区的金融机构投资入股中资金融机构,适用本办法;国务院另有规定的,适用其规定。

  Article 18   These Measures shall not apply to the purchase of tradable shares of listed Chinese-funded financial institutions by qualified foreign institutional investors.

       第十八条  合格境外机构投资者购买上市中资金融机构流通股不适用本办法。

  Article 19   With regard to equity investment in automobile finance companies, the Administrative Measures for Automobile Finance Companies shall apply.

       第十九条  投资入股汽车金融公司,依照《汽车金融公司管理办法》的相关规定执行。

  Article 20   These Measures shall be subject to the interpretation of the China Banking Regulatory Commission.

       第二十条  本办法由中国银行业监督管理委员会负责解释。

  Article 21   These Measures shall come into effect on December 31, 2003. In case of any discrepancy between these Measures and relevant documents promulgated prior to the enforcement of these Measures, these Measures shall prevail.

       第二十一条  本办法自2003年12月31日起施行。本办法施行前颁布的有关文件与本办法规定不一致的,按照本办法执行。