Chinese Banking Law and Foreign Financial Institutions

Download or read book Chinese Banking Law and Foreign Financial Institutions written by Zhongfei Zhou and published by Springer. This book was released on 2001-03-12 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: If China is to develop a modern and viable banking sector, it needs to put in place a suitable legal infrastructure which is consistent with emerging international supervisory standards, WTO requirements and aspirations for financial sector liberalisation. The author argues that current foreign banking laws are fundamentally out of line with international standards and practices and that legislators and supervisors do not appreciate or cultivate commonly accepted supervisory values. This book proposes a set of reforms that would at the same time create a legal environment for competitive equality between foreign banks and protect the Chinese banking system. The issues considered include the licensing process for the entry of foreign banks into the Chinese market, the ongoing regulation of foreign banks and foreign bank crisis management or bank failure resolution. The author offers a proposed framework of Chinese foreign banking law which should be of great benefit to existing and prospective foreign banks in China.