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人民币业务对外资银行全面开放
Overseas banks get hands on renminbi business
[ 2006-11-17 14:36 ]

A picture of HSBC.

Foreign banks need to convert their branches in China into locally incorporated companies to conduct the coveted renminbi retail business, according to rules released late on Wednesday.

The requirement is aimed at preventing global financial woes of foreign banks from spilling over to their branches in China, Song Dahan, vice-minister of the State Council's Legislative Affairs Office, said yesterday.

When a bank registered overseas is hit by a financial crisis, the interests of depositors in the country where the bank is registered are usually considered ahead of depositors at branches in other parts of the world.

So the local-incorporation requirement will help protect Chinese individuals who deposit money in foreign banks operating in China, Song told a news conference arranged by the State Council Information Office.

"This requirement is consistent with China's WTO (World Trade Organization) commitments," Song said. "It is also in line with international norms and the principle of prudential supervision supported by the WTO."

"We believe that local incorporation will enable us to further expand our network and service range, in particular our RMB financing ability, for the benefits of the customers in Chinese market." Richard Yorke, China CEO of HSBC, said in a statement.

The rules, which take effect on December 11, fulfil the last commitments on opening up the banking sector China made when it entered the WTO five years ago.

From December 11, Chinese and foreign banks will be under a unified regulatory system; and the current restrictions on overseas banks' locations and choice of customers will be lifted.

Currently, foreign bank branches need the regulator's approval to offer any kind of service involving the Chinese currency. From December 11, all foreign branches will be allowed to accept time deposits of at least 1 million yuan (US$125,000) by private Chinese individuals.


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(China Daily)

根据本周三晚些时候公布的《中华人民共和国外资银行管理条例》规定,我国将对在中国注册的外资法人银行全面开放人民币零售业务。

昨天,据国务院法制办公室副主任宋大涵解释,条例规定只有在中国注册的外资法人银行才可全面经营人民币业务,主要是为了防止外资银行总行的金融危机波及到其在中国的分行。

一旦外资银行的总行发生金融危机,通常是其本国的存款人得到优先清偿,而其分行所在国的存款人则无法得到优先清偿保障。

宋主任在国务院新闻办公室举办的新闻发布会上说,要求外资银行分行转制可以保护在外资银行存款的国内居民的利益。

宋主任说:“这一规定和我国开放人民币业务的入世承诺相一致,也符合国际惯例和世贸组织允许的审慎性原则。”

汇丰银行中国区首席执行官翁富泽在一份声明中说:“我们相信,在中国注册的法人银行将有助于汇丰进一步拓展服务网点和业务范围,尤其是增强汇丰人民币融资的能力,以使中国的客户受益。”

此条例将从下月11日起开始实施,由此,中国已全面履行五年内开放银行业的入世承诺。

从12月11日起,中国将对中外资银行实行统一的监管标准,并将取消外资银行在华经营人民币业务的地域和客户限制。

目前,外资银行分行需经过银监会的批准才可经营人民币业务。从12月11日起,所有外资银行分行可以吸收100万元以上的居民个人定期存款。


(英语点津姗姗编辑)

 

Vocabulary:      


local incorporated company   : 指“在华注册的外资银行”

 

 

 
 
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