Home>News Center>China
       
 

Banks to launch fund companies
By Sun Min (China Daily)
Updated: 2005-02-21 06:08

The central government released a long-expected regulation yesterday to allow some pilot commercial banks to launch fund management companies, clearing the major policy obstacles for the reform.

The regulation, jointly issued by the China Banking Regulatory Commission (CBRC), the People's Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC), will enable commercial banks to step into the securities investment business, a major breakthrough in the segregated regulatory scheme of the banking, securities and insurance sectors.

Before, domestic banks could only sell funds or provide custody services, but were not allowed to take part in investment sales.

The regulation clarified application procedures for commercial banks that want to set up fund management companies and also set guidelines to regulate risk controls, affiliated trade and the daily operations of new fund companies.

Banks that are interested in investing in the fund management business should first apply to the CBRC and PBOC and then undergo examination of CSRC to receive licenses.

The regulation said the fund companies initiated by the commercial banks should have diversified equity structures. CBRC officials said earlier that domestic banks are encouraged to introduce foreign strategic investors to jointly invest in the fund management companies and domestic private investors can also participate.

A number of commercial banks have already submitted initial applications to invest in the fund management business, a spokesman for the three financial regulators said yesterday. He said the regulators would start reviews of applications very soon. They would take the performances of the banks into consideration when choosing the pilots, who can either directly launch a new fund company or have their subsidiaries invest in the company.

Senior officials of the Industrial and Commercial Bank of China and China Merchants Bank, two promising candidates for the pilot programme, have expressed interest in the fund business and said they will implement their plans once the official procedures and standards are clarified.

Though the innovation is expected to bring new profits for banks, the potential risks remain a common concern. The new regulation also said a bank can not provide custody for the funds issued by its own fund management company.

(China Daily 02/21/2005 page2)



 
  Today's Top News     Top China News
 

Non-government group plans to lease, develop Diaoyudao

 

   
 

Private airlines ready to take off in China

 

   
 

FM: US-Japan statement on Taiwan wrong

 

   
 

Senior Chinese official consults DPRK

 

   
 

Medical research on stem cells to continue

 

   
 

Wet nurse plan dumped in its infancy

 

   
  Shanda got 19.5% of Sina as top shareholder
   
  Famous winery ceded to private, foreign investors
   
  Freighter sinks, 7 missing in Beibu Gulf
   
  Beijing Olympic Village project gets approval
   
  Tourists trapped by snow rescued in Yunnan
   
  Building harmonious society CPC's top task
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 久久a级毛片免费观看| 午夜三级A三级三点在线观看| bwbwbwbwbwbw精彩| 日本一本二本免费播放视频| 亚洲最大成人网色香蕉| 秋葵视频在线观看在线下载| 国产交换配偶在线视频 | 有没有毛片网站| 免费无码AV一区二区三区| swag在线观看| 性生活一级毛片| 久久久噜噜噜久久熟女AA片| 欧美一级看片免费观看视频在线| 亚洲精品国产国语| 精品久久久久久久久午夜福利 | а天堂中文最新一区二区三区| 日本24小时www| 么公的又大又深又硬视频| 欧美丰满白嫩bbwbbw| 亚洲精品中文字幕乱码三区| 用电动玩具玩自己小视频| 冠希与阿娇实干13分钟视频| 美女张开腿让男人桶国产 | 日韩一区在线视频| 久久精品视频国产| 最新69国产成人精品视频69| 亚洲一区二区影院| 欧美三级黄色大片| 亚洲人成色777777在线观看| 欧美性猛交xxxx乱大交极品| 亚洲日韩在线中文字幕综合| 毛片a级毛片免费观看品善网| 亚洲综合激情另类小说区| 男人日女人app| 日本久久久久久久中文字幕| 亚洲成a人片在线观看天堂无码| 毛片在线观看网站| 亚洲精品美女视频| 波多野结衣伦理片bd高清在线| 你好老叔电影观看免费| 福利在线一区二区|