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Article 1. In order to strengthen the access administration of financial institutions and to promote the financial institutions to lawfully operate, these Measures are enacted in accordance with the Law of the People's Republic of China on Commercial Banks, the Regulations of the People's Republic of China on the Administration of Foreign-Funded Financial Institutions, and other relevant laws and administrative regulations. Article 2. The "financial licenses" mentioned in these Measures shall refer to the legal documents issued by China Banking Regulatory Commission (hereinafter referred to CBRC) according to law to permit the financial institutions to operate financial businesses. The authority to issue, replace, detain, and revoke the financial licenses shall be exercised by CBRC, and no other entity or individual may exercise the aforesaid authority. Article 3. Financial licenses shall apply to the financial institutions that are subject to the regulation by CBRC and that have been approved to operate financial businesses. Financial institutions include policy-oriented banks, commercial banks, financial assets management companies, credit cooperatives, post deposit institutions, trust and investment companies, enterprise group finance companies, financial lease companies, and foreign-funded financial institutions. Article 4. CBRC applies to the financial licenses the administration principles of level-by-level authorization, and appropriate separation of the power to examine and approve the institutions from the power to issue licenses: (1) CBRC shall be responsible for the issuance and administration of the financial licenses of the financial institutions qualified as corporation (policy-oriented banks, solely state-funded commercial banks, joint-stock commercial banks, financial assets management companies, trust and investment companies, enterprise group finance companies, and financial lease companies) directly subject to its regulation; be responsible for the issuance and administration of the financial licenses of the foreign-funded financial institutions such as solely foreign-funded banks and the branches thereof, Chinese-foreign equity joint banks and the branches thereof, branches of foreign banks, solely foreign-funded finance companies, and Chinese-foreign equity joint finance companies; (2) The banking regulatory bureaus of the provinces (autonomous regions, municipalities directly under the Central Government), and the sub-bureaus directly affiliated to CBRC shall be responsible for the issuance and administration of the financial licenses of the following institutions: 1. Policy-oriented banks, solely state-owned commercial banks, branches of joint stock commercial banks (including sub-branches in other places); 2. Branches and sub-branches (offices) of financial assets management companies; 3. Urban commercial banks qualified as corporations and the branches and sub-branches thereof; 4. Agencies subordinated to the branches of foreign-funded banks (excluding the branches); 5. The non-bank financial institutions such as trust and investment companies, enterprise group finance companies, financial lease companies etc. other than those directly subject to the regulation of CBRC, and the branches and sub-branches thereof; 6. Urban credit associations, rural credit associations (at the level of province, prefecture and city), and rural commercial banks qualified as corporation; and 7. Service networks of financial institutions in the same cities where the bureaus are located; (3) The regional (city, prefecture) sub-bureaus of CBRC shall be responsible for the issuance and administration of the financial licenses of the financial institutions and the branches and sub-branches thereof other than those mentioned above. Article 5. A financial institution shall, within 60 days from receiving the approval documents of CBRC or the agency thereof, draw or replace the financial license with CBRC or the agency thereof by taking with it the following materials: (1) Approval documents of CBRC or the agency thereof; (2) Introduction letter of the financial institution; (3) Legal and valid identity certificate of the person drawing the license; and (4) Other materials required by CBRC or the agency thereof. Article 6. The time limit for issuing the license by CBRC or the agency thereof shall be within 5 workdays from receiving the aforesaid valid documents. Article 7. The financial license shall specify the following contents: (1) Institutional code (financial institutions shall be subject to the uniform codes over the country, see appendix); (2) Institutional name (rural credit cooperatives shall indicate the institution qualified as corporation or the branch and sub-branch in the brackets); (3) Laws and regulations taken as basis; (4) Date of approved establishment of the institution; (5) Business address; (6) Date of issuance of the license; and (7) Official stamp of CBRC or the agency thereof. Article 8. In any of the following events, a financial institution shall apply for replacement of the financial license with CBRC or the agency thereof: (1) Change of the institutional name; (2) Change of the business address (limited to the liquidation code); (3) Damage of the license; (4) Loss of the license; (5) Other events in which CBRC or the agency thereof regards the license shall be replaced. In the event of change of institutional name or business address, the old license shall be returned to CBRC or the agency thereof, and the financial institution shall draw the new financial license by taking with it the materials specified in Article 5 of these Measures. In the event of damage of the license, the old license shall be returned when the financial institution applies for the license anew. In the event of loss of the license, the financial institution shall declare invalidation of the old license on the newspaper designated by CBRC or the agency thereof, and apply for a license anew. Article 9. The principle of institutional code for life shall be applied with respect to the financial licenses. Except for the reasons of change of institutional name, change of business address (limited to the liquidation code), and cancellation of the financial institution, an institutional code shall not be changed once it is determined. If the financial license is lost or damaged, the original institutional code shall be continually used where a new license is applied for. If the financial license is revoked, the institutional code shall be invalidated automatically and no longer be used. Article 10. The issuance or change of a financial license shall be announced on the nationally published newspaper designated by CBRC or the agency thereof. The revocation or written-off of a financial license shall also be announced on the newspaper designated by CBRC or the agency thereof. Article 11. The specific contents of the announcement shall include: institutional name, business address, financial institutional code, post code, and contact telephone number. Article 12. The financial license shall be displayed to the public at an eye-catching position of the business place of a financial institution. The financial institution shall display to the public its business scope, and major principals through appropriate form at an eye-catching position of the business place. CBRC or the agency thereof shall supervise and inspect the public display according to law. Article 13. No entity or individual may forge or alter the financial license. And no financial institution may lease, rent, or transfer the financial license. Article 14. CBRC or the agency thereof shall strengthen the information administration of financial licenses, establish a sound archive system of institution administration, and disclose the relevant information about the financial licenses according to law. Article 15. A financial institution shall, when drawing and replacing the financial license, pay the examination fee, registration fee, and other relevant expenses to CBRC or the agency thereof. Article 16. Where any financial institution, in violation of the present Measures, commits any of the following acts, CBRC shall order it to get right within a prescribed time limit and give it a warning. If the institution fails to get right within that time limit, it may be imposed on a fine of less than 30,000 Yuan. If the circumstances are serious, the senior managerial personnel directly in charge may be deprived of their post qualification: (1) Failing to replace the financial license according to the provisions; (2) Damaging the financial license; (3) Losing the financial license and failing to report the loss to CBRC; (4) Failing to display to the public the financial license at the business place; or (5) Forging, altering, leasing, renting, or transferring the financial license. Article 17. Any commercial bank that leases, rents, or transfers the financial license shall be punished according to the relevant provisions of the Law of the People's Republic of China on Commercial Banks. Article 18. Any party forging or altering the financial license of commercial bank shall be punished according to the Law of the People's Republic of China on Commercial Banks and other relevant laws and regulations. Article 19. The financial licenses shall be printed and managed by CBRC in a unified way. CBRC shall print the financial licenses according to the coding method for the financial licenses, and the licenses are valid only if they are affixed with the official stamp of CBRC or the agency thereof when they are issued. The financial licenses shall be subject to keeping under the special management of important proofs. The functions of keeping, printing, and issuing shall be separated and shall check each other, and the registration system of the issuance, withdrawal, and destroying of financial licenses shall be established as the same time. The invalidated licenses, withdrawn old licenses, and licenses returned and revoked according to law during the administration of the issuance of financial licenses shall be affixed with the stamp of "invalidated", be put on archive as import blank proofs and be destroyed at fixed terms. Article 20. The present Measures shall be implemented as of July 1, 2003. Where any other relevant provisions conflict with these Measures, the latter shall prevail. Attachments: 1. Scheme on the Coding of the Financial Licenses of Financial Institutions 2. Contents of the Sample License (omitted) 3. Contents of the Sample Announcement (for issuance or replacement of the license)(omitted) 4. Contents of the Sample Announcement (for revocation or written-off of the license)(omitted) Attachment 1: SCHEME ON THE CODING OF THE FINANCIAL LICENSES OF FINANCIAL INSTITUTIONS Codes of the financial institutions on the financial licenses shall be drawn up by referring to the coding principles and methods for the Resident Identity Card and the state standard ¨C Codes of Liquidation Centers of the Whole Country (GB13497-92), and according to the principles of uniformity, normalization, and facilitating identification and management. In the making and printing of the financial licenses, the codes of financial institutions may be automatically generated by the computer system, and some parts may be modified by manual work. The whole set of codes consists of 2 English letters and 12 figures, totaling 14 figures, and the codes are arranged from the left to the right, like the following illustration: (1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14) Figure (1) is the classification code of the financial institution and shall be written in capital English letter. A--policy-oriented banks; B--commercial banks; C--house saving banks; D--urban commercial banks; F--urban credit cooperatives (including associations); G--rural commercial banks (including rural cooperative banks) and rural credit cooperatives (including associations); H--credit card companies; I--post deposit institutions; K--trust and investment companies; L--enterprise group finance companies; M--financial lease companies; W--foreign-funded banks; Y--foreign-funded non-bank financial institutions; Z--financial institutions of other classifications. Figure (2) is the institutional code of the corporation or non-corporation branch or sub-branch. "1" refers to corporation financial institutions, and "2" refers to non-corporation branches and sub-branches. Figures (3) and (4) are the code of the approved institution (applicable to Chinese-funded institution), and the newly established institutions shall be arranged in order. Classification A: 01--State Development Bank; 02--Export-Import Bank of China; 03--Agriculture Development Bank of China. Classification B: 01--Industrial and Commercial Bank of China; 02--Agricultural Bank of China; 03--Bank of China; 04--China Construction Bank; 05--Bank of Communications; 06--CITIC Industrial Bank; 07--China Everbright Bank; 08--Huaxia Bank; 09--China Minsheng Banking Corp.; 11--China Merchants Bank; 12--Guangdong Development Bank; 13--Industrial Bank Co., Ltd; 14--Shenzhen Development Bank; 15--Shanghai Pudong Development Bank; 16--American First National Bank. Classification C: 01-, Classification D: urban commercial banks Classification F: urban credit cooperatives (including associations) 01¡ªassociations; 02--credit cooperatives. Classification G: rural credit cooperatives (including associations) 01-associations; 02-credit cooperatives; 03-rural commercial banks (rural cooperative banks). Classification I: post deposit institutions Classification K: 01--trust and investment companies directly under the regulation of CBRC; 02-trust and investment companies other than those directly under the regulation of CBRC. Classification L: finance companies 01-finance companies directly under the regulation of CBRC; 02-finance companies other than those directly under the regulation of CBRC. Classification M: financial lease companies 01-financial lease companies directly under the regulation of CBRC; 02-financial lease companies other than those directly under the regulation of CBRC. Classification Z: 01-financial assets management companies Figure (5) is the code of the examination and approval body (applicable to Chinese-funded institution). Codes of the examination and approval bodies of Chinese-funded financial institutions, for example, "1" shall be indicated where the examination and approval body is CBRC; "2" shall be indicated where the examination and approval body is the banking regulatory bureau or the sub-bureau directly subordinated to CBRC; "3" shall be indicated where the examination and approval body is a branch of the banking regulatory bureau. Figures (3) to (5) are the code of the approved foreign-funded financial institution (applicable to foreign-funded institutions), newly established institutions shall be arranged in order. Classification W: Foreign-funded banks qualified as corporation registered in China, Chinese-foreign equity joint banks qualified as corporation, and branch banks of foreign banks. Classification Y: foreign-funded finance companies, foreign-funded enterprise group finance companies, foreign-funded lease companies, and foreign-funded trust companies. Figures (6) ¨C (9) are the address code of the financial institution, and shall be subject to the coding methods for address codes provided in the Codes of Liquidation Centers of the Whole Country (GB13497-92). Figure (10) is the organizational classification code of the financial institution, and shall be written in capital English letters. H(Headquarter)-head office (or headquarter), B(branch)-branch (or subsection), S(sub-branch)-sub-branch, O(others)-other branches and sub-branches. Figures (11) to (14) are the number of the sequence by which the financial institution handles the licenses. Each financial institution shall have one serial number, and the serial numbers of the financial institutions of the same region [(prefecture) city shall be taken as the unit with respect to urban and rural credit cooperatives, and province shall be taken as the unit with respect to other financial institutions] and of the same classification shall be consecutive, and there shall not be any repeated or blank serial number. The codes of newly established institutions shall be drawn up according to the coding method and sequence for drawing up the codes of the institutions of the same classification. A financial institution shall use its original code except in the event of change of institution. The original code of a financial institution that has been cancelled shall be written off and be no longer used. Where several financial institutions are consolidated, only the code of the financial institution responsible for the establishment shall be reserved. If a financial institution loses its license, the institutional code of the replaced license shall remain unchanged, and the serial number shall be different. The coding method shall be used together with the development of the computer system, before the use of the new system, the examination and approval bodies of CBRC shall draw up the codes of the financial institutions within their respective jurisdictions. |
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