Advocacy Actions
Lobby Letter Submitted to the People's Bank of China (PBoC) on the Draft Regulation on Local Financial Supervision and Administration of Local Financial Organisations
On 21st January, the European Chamber’s Banking & Securities working group and Non-Banking Financial Institutions (NBFI) working group sent a joint letter to the People’s Bank of China (PBoC) International Cooperation Department to follow up to a meeting held between Banking & Securities working group's representatives and People’s Bank of China officials on 14th January. A lobby letter with comments on PBOC’s draft regulation on local financial supervision and administration of local financial organisations by the NBFI working group was attached to the thank you letter.
Read moreEuropean Chamber financial services chairs join Shanghai Trade Counsellors Meeting
On Friday 17th December, the financial services working groups chairs joined Shanghai Trade Counsellors Meeting to give an overview of the developments in the financial sector over the year 2021
Read moreSubmission of Comments on Draft Measures on Security Assessment of the Cross-border Transfer of Data
At the end of October, the Cybersecurity Administration of China (CAC) published a invitation to public consultation on the Measures on Security Assessment of the Cross-border Transfer of Data (Draft for comments).
Read moreMeeting between the NBFI WG and Shanghai Municipal Financial Regulatory Bureau
On Friday 22nd October, a meeting with Shanghai Municipal Financial Regulatory Bureau was held at the European Chamber’s office in Shanghai.
Read moreMarket Access Team meeting for Financial Services
On 15th October 2021, a group of European Chamber representatives joined a Market Access Team meeting on financial services organised by the EU Delegation.
Read morePresentation of the financial aspects in the Position Paper to EU Economic and Financial Counsellors
On 22nd September, the Vice Chairs of the Banking and NBFI Working Groups presented their respective Position Papers to EU Member State Economic and Financial Counsellors.
Read moreComments to Shanghai Municipal Commission of Commerce (SCOFCOM) on Building the Rule of Law in Commerce in Shanghai During the 14th Five-year Plan Period (Draft for Comment)
The European Chamber submitted comments to Shanghai Municipal Commission of Commerce (SCOFCOM) on Building the Rule of Law in Commerce in Shanghai During the 14th Five-year Plan Period (Draft for Comment).
Read moreSubmitted comments to the People's Bank of China on the Anti-money Laundering Law (Revised Draft for Comment)
The working groups suggested to clarify roles and responsibilities, including for units and individuals. Other suggestions include narrowing the scope of the confidentiality obligation of the new law, make clear the name and specific supervision mode of the state anti-money laundering administrative department and to clarify the specific treatment methods of domestic foreign-funded institutions, that is, whether the existing unified anti money laundering compliance system of overseas parent banks can be used.
Read moreSubmitted comments on PBOC's Uniform Registration Measures for Moving Property and Rights Guarantees (Revised Draft for Comments)
The draft Measures are implementation measures of the People's Republic of China's Civil Code. Among other things, the NBFI WG suggested that registration of vehicles should be included in these Measures.
Read moreSubmitted Comments on the Financial Institutions' Customer Due Diligence and Management Measures for the Preservation of Customer Identity Data and Transaction Records (Draft for Comments) to the PBOC
The draft regulation is calling on financial institutions should be diligent and responsible, follow the principle of "know your customer", identify customers and their beneficial owners, and take corresponding due diligence measures for customers, business relationships or transactions with different risk characteristics of money laundering or terrorist financing. The working group submitted comments based on their experience as global financial institutions.
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