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With the further expanding of the opening-up to the outside world of our country, there are increasingly more and more branches of foreign companies in China. In order to strengthen the regulation and uniform administration on the names of the branches of foreign companies in China, the State Administration for Industry and Commerce is beginning to regulate the Chinese names of the branches of foreign companies in China. China Banking Regulatory Commission will also make unified regulation on the Chinese names of the branches of foreign banks in China accordingly. And we hereby make the following notice on the relevant issues: I. LEGAL BASIS FOR REGULATING THE CHINESE NAMES OF THE BRANCHES OF FOREIGN BANKS IN CHINA Article 202 of the Company Law of the People's Republic of China prescribes: "Branches of a foreign company shall indicate clearly the nationality and forms of liability of the foreign company in their names". II. SCOPE OF REGULATION ON THE CHINESE NAMES The scope of Chinese names being regulated this time shall cover: the branches of a foreign bank within the territory of China, including the branch banks, sub-branch banks, general representative offices and representative offices. The wholly foreign-owned banks, joint venture banks, wholly foreign-owned financial companies, joint venture financial companies and their branches, sub-branches, and representative offices do not fall within the scope of regulation. III. PRINCIPLES FOR REGULATING THE CHINESE NAMES 1. The nationality of a bank shall be indicated clearly in its Chinese name (which shall be based on the registration place of the bank). If the name of the bank has embodied its nationality, it may not be repeated. 2. Forms of liabilities of a bank shall be indicated clearly in its Chinese name. If the liability of a bank is unlimited liability, the form of liability shall be omitted in its Chinese name. IV. HONG KONG, MACAO AND TAIWAN INSTITUTIONS The Chinese names of the branches, sub-branches, general representative offices and representative offices of the banks of Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan District in the mainland of China shall be regulated by referring to the above mentioned principles, but only the forms of liabilities shall be indicated clearly, and there is no need to alter other parts. V. PROCEDURES AND TIME LIMIT FOR THE REGULATION WORK All the bureaus of China Banking Regulatory Commission shall transfer the contents of this Notice to the foreign-funded banks within their own jurisdictions. If the Chinese names of any institutions do not conform to the above requirements at present, their parent banks shall submit the "Confirmation Letter of the Chinese Names of Branches of Foreign Banks in China" (For the format of the Confirmation Letter, please see Attachment I) to China Banking Regulatory Commission before December 31, 2003. The confirmation letter shall be mailed directly to China Banking Regulatory Commission, who may alter the Chinese names of the institutions by issuing a document after making examination on the confirmation letter. The institutions, which have changed the financial license as issued by China Banking Regulatory Commission and have completed the matters regarding announcement, shall, after receiving the documents of approval of China Banking Regulatory Commission for their alteration of Chinese names, handle such matters as changing the financial licenses, but they need not make the announcement again. The institutions, which fail to alter the financial licenses as issued by China Banking Regulatory Commission, shall, after receiving the documents of approval of China Banking Regulatory Commission for their alteration of Chinese names, handle such matters as changing the financial licenses, and make a public announcement as prescribed. VI. THE MISCELLANEOUS The Chinese names of the institutions as listed in Attachment 2 have corresponded with the said requirements, and therefore there is no need for them to handle the relevant matters concerning the regulation of the Chinese names. ATTACHMENTS: 1. Confirmation Letter of the Chinese Names of Branches of Foreign Banks in China (Format) 2. Name List of Institutions Whose Chinese Names Do Not Need to Be Altered Contact Persons: Hujie and Huangyu Tel: 010¡ª66195177/ 010¡ª66194484 Attachment 1 CONFIRMATION LETTER OF THE CHINESE NAMES OF BRANCHES OF FOREIGN BANKS IN CHINA (FORMAT) China Banking Regulatory Commission: This bank, xxxx bank, is registered in the country xxx, whose form of liability shall be xxx (The certificate documents shall be attached, such as the business license or the photocopy of the industry and commerce registration documents). Thereby, the Chinese names of the branches of our bank are as follows: xxx (country) xxx bank xxx (form of liability) xxx branch xxx (country) xxx bank xxx (form of liability) xxx representative office They are hereby confirmed. Signature: ¡Á¡Á¡Ábank Chairman of the Board (or president, CEO, general manager) Date Month Year Attachment 2 NAME LIST OF INSTITUTIONS WHOSE CHINESE NAMES DO NOT NEED TO BE CHANGED The Chinese names of the branches of the following seven institutions in China (mainland) have conformed to the regulation requirements, and do not need to be altered: • Bank of East Asia Ltd. • Hang Seng Bank Ltd. • Hongkong and Shanghai Banking Corporation Limited • Bank of China (Hong Kong) • The Kazakstan People's Deposit Bank Public Stock Company • NEDBank-ADVISION of NEDAR Bank Ltd • ABSA Bank Ltd. |
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