中国银行业监督管理委员会令[2003]年第6号

（Promulgated by the China Banking Regulatory Commission on 8 December 2003 and effective as of 31 December 2003.）

颁布日期：20031208 　实施日期：20031231 　颁布单位：中国银行业监督管理委员会

Article 1　These Procedures have been formulated in order to standardize the acts of equity investment of overseas financial institutions in Chinese-funded financial institutions and optimize the capital structure of Chinese-funded financial institutions.

Article 2　These Procedures shall apply to equity investment of overseas financial institutions in Chinese-funded financial institutions already established according to law.

For the purposes of these Procedures， “overseas financial institutions” includes international financial institutions and foreign financial institutions. “International financial institutions” refers to World Bank and its affiliated organizations， other inter-governmental development financial institutions and other international financial institutions recognized by the China Banking Regulatory Commission. “Foreign financial institutions” refers to financial holding companies， commercial banks， securities companies， insurance companies and funds registered and established in foreign countries， and other foreign financial institutions recognized by the China Banking Regulatory Commission.

For the purposes of these Procedures， “Chinese-funded financial institutions” refers to Chinese-funded commercial banks， urban credit cooperatives， rural credit cooperatives， trust and investment companies， finance companies of enterprise groups and lease financing companies that are established in China according to law， and other Chinese-funded financial institutions established upon the approval of the China Banking Regulatory Commission.

For the purposes of these Procedures， “percentage of equity investment” refers to the percentage of the amount of capital contribution or shareholding in the total amount of paid-up capital or total number of shares of a Chinese-funded financial institution.

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

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

Article 5　Equity investment of overseas financial institutions in Chinese-funded financial institutions shall be based on honesty and good faith， and aim at medium and long-term investment.

Article 6　Overseas financial institutions that make equity investment in Chinese-funded financial institutions shall contribute capital in the form of currency.

Article 7　An overseas financial institution that makes equity investment in a Chinese-funded financial institution shall satisfy the following conditions：

1. in case of equity investment in a Chinese-funded commercial bank， its total assets as of the end of the most recent year shall be no less than US$10 billion in principle； in case of equity investment in a Chinese-funded urban credit cooperative or urban credit cooperative， its total assets as of the end of the most recent year shall be no less than US$1 billion in principle； in case of equity investment in a Chinese-funded non-bank financial institution， its total assets as of the end of the most recent year shall be no less than US$1 billion in principle；

2. its long-term credit rating for the most recent two years， issued by an international rating institution recognized by the China Banking Regulatory Commission， has been good；

3. it has been continuously profitable for the most recent two fiscal years；

4. if it is a commercial bank， its capital adequacy ratio shall not be less than 8%； if it is a non-bank financial institution， its total capital shall not be less than 10% of its total weighted risk assets；

5. it has a sound internal control system；

6. there is a sound regulatory system for financial institutions at the place in which it is registered；

7. the economic condition of the country （region） in which it is located is good； and

8. other prudential conditions stipulated by the China Banking Regulatory Commission.

The China Banking Regulatory Commission may， in the light of the risk status of financial industry and according to the requirements of regulation， adjust the qualifications for overseas financial institutions to make equity investment in Chinese-funded financial institutions.

Article 8　The percentage of equity investment of a single overseas financial institution in a Chinese-funded financial institution may not exceed 20%.

Article 9　If the aggregate percentage of equity investment of multiple overseas financial institutions in a non-listed Chinese-funded financial institution reaches or exceeds 25%， such non-listed Chinese-funded financial institution shall be regulated as a foreign-funded financial institution.

If the aggregate percentage of equity investment of multiple overseas financial institutions in a listed Chinese-funded financial institution reaches or exceeds 25%， such listed Chinese-funded financial institution shall still be regulated as a Chinese-funded financial institution.

Article 10　In case of equity investment of an overseas financial institution in a Chinese-funded financial institution， the Chinese-funded financial institution that absorbs the investment shall file an application with the China Banking Regulatory Commission as an applicant：

1. if it is a wholly State-owned commercial bank， a share system commercial bank or a non-bank financial institution directly regulated by the China Banking Regulatory Commission that absorbs equity investment from the overseas financial institution， the application shall be filed directly to the China Banking Regulatory Commission for approval；

2. if it is a Chinese-funded financial institution other than those specified in Paragraph One of this Article that absorbs equity investment from the overseas financial institution， the application shall be filed to an office of the China Banking Regulatory Commission at the provincial level at the place in which it is located， and shall be reported to the China Banking Regulatory Commission after examination and verification for approval.

Article 11　When a Chinese-funded financial institution files an application to the China Banking Regulatory Commission for absorption of equity investment， it shall submit the following documents：

1. the application of the Chinese-funded financial institution for absorption of equity investment；

2. the resolution of the shareholders' general meeting or the board of directors of the Chinese-funded financial institution that consents to the absorption of investment or the approval document of a superior authority in charge；

3. the resolution of the shareholders' general meeting or the board of directors of the overseas financial institution that consents to the equity investment in the Chinese-funded financial institution；

4. an agreement of intent between the parties；

5. the annual reports or financial statements such as audited balance sheets and profit statements of the overseas financial institution for the most recent three years；

6. information such as the source of funds and business operation of the overseas financial institution； and

7. other relevant information required by the China Banking Regulatory Commission.

If the investor is a foreign financial institution， the Chinese-funded financial institution shall also submit the rating reports on such foreign financial institution for the most recent two years issued by an international rating institution recognized by the China Banking Regulatory Commission and the approval document of the financial regulatory authority of the place where it is registered.

Article 12　The China Banking Regulatory Commission shall， within three months of the date of receipt of a complete set of application documents， render its decision on whether or not to approve the application. If it rejects the application， it shall notify the applicant in writing and state the reasons therefor.

Article 13　The overseas financial institution shall transfer the full amount of capital into the account of the Chinese-funded financial institution within 60 working days of the receipt of the approval decision of the China Banking Regulatory Commission， and the transfer shall be verified by an accounting firm recognized by the China Banking Regulatory Commission.

Article 14　If there is a change in the registered capital or equity structure of a Chinese-funded financial institution as a result of equity investment of an overseas financial institution， amendment procedures shall be carried out in accordance with the relevant regulations.

Article 15　If a Chinese-funded financial institution， in violation of these Procedures， changes its shareholder or adjusts the equity structure without authorization， the China Banking Regulatory Commission shall impose penalties in accordance with the relevant provisions.

Article 16　Where an overseas financial institution that has made equity investment in a Chinese-funded financial institution increases its shareholding ratio， the relevant provisions hereof shall apply.

Article 17　These Procedures shall apply to equity investment of financial institutions of Hong Kong， Macao and Taiwan regions in Chinese-funded financial institutions. Where the State Council provides otherwise， such provisions shall prevail.

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

Article 19　Equity investment in auto finance companies shall be handled in accordance with the relevant provisions of the Administration of Auto Finance Companies Procedures.

Article 20　The China Banking Regulatory Commission is in charge of the interpretation of these Procedures.

Article 21　These Procedures shall be implemented as of 31 December 2003. In the case of any inconsistency between relevant documents promulgated prior to the implementation of these Procedures and the provisions hereof， these Procedures shall prevail.