Advocacy Actions
Submitted 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.
Read moreRoundtable with DG Mu Changchun of the PBOC's Digital Currency Institute
The discussion centered on onshore and offshore usage of the E-CNY. DG Mu updated members on the roll out of the E-CNY and assessment of the pilot project ahead of the Beijing Winter Olympics 2022. He also detailed a little bit on regulation and standards required for the E-CNY. Other topics briefly discussed included bank deposits and digital regulation.
Read moreMeeting with Department of Foreign Investment of Ministry of Commerce (MOFCOM)
On 14th April, the European Chamber led a delegation of representatives from six working groups (WG) to meet with the Department of Foreign Investment of the Ministry of Commerce (MOFCOM).
Read moreMeeting with the People's Bank of China's Credit Bureau on the Administrative Measures for Credit Reporting Business (Draft for Comments)
Following the comments and suggestions by members on the Draft Administrative Measures for Credit Reporting Business 《征信业务管理办法（征求意见稿）》的意见, the Credit Bureau Department of the People’s Bank of China invited members to a roundtable discussion on Friday 19th March.
Read moreSubmitted comments to Shanghai Municipal Regulatory Financial Bureau on the Interim Measures for the Supervision and Administration of Shanghai Financial Leasing Companies (Draft for Comments)
The Measures aim to regulate the operation of financial leasing companies in Shanghai, strengthen the supervision and management, prevent and reduce risks, and promote the sustainable and healthy development of the industry, and be in accordance with the "Company Law of the People's Republic of China" and "Shanghai Local Financial Supervision and Administration Regulations" and the “Market Access Negative List” issued by National Development and Reform Commission(NDRC) and the Ministry of Commerce (MOFCOM), and “Interim Measures for the Supervision and Administration of Financial Leasing Companies (Yinbaojianfa [2020] No. 22) “ issued by the China Banking and Insurance Regulatory Commission (CBIRC).
Read moreSubmitted Comments to PBOC on the Measures for the Management of Credit Investigation (Draft for Comments)
The Measures seek to improve the transparency of credit investigation business activities, protect the legitimate rights and interests of information subjects, and promote the legal and compliant use of credit information among information providers, credit investigation institutions and information users.
Read moreMeeting with Beijing Municipal Bureau of Local Financial Regulation on the topic of Leasing
The meeting focused on mainly three topics for discussion: factoring and assignment of receivables, protection over ownership of leased assets and financial leasing.
Read moreChief Negotiator for CAI debriefs European Chamber representatives on the Agreement
On 5th January, Chief Negotiator for the Comprehensive Agreement on Investment (CAI) Ms Maria Martin Prat and her team debriefed a group of Chamber industry representatives on the key points of the Agreement.
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