The People’s Bank of China Notice of the People’s Bank of China on Printing and Issuing Interim Provisions on the Qualifications of Middle-ranking and Senior Yin Fa [1997] No. 197 The sub-banks of the People’s Bank of China in Beijing, Shanghai, Tianjin, Chongqing, Zhejiang, Heilongjiang, Sichuan, Guangdong, Interim Provisions on the Qualifications of Middle-ranking and Senior Managerial Personnel Working in Financial Institutions with The People’s Bank of China May 15, 1997 Interim Provisions on the Qualifications of Middle-ranking and Senior Managerial Personnel Working in Financial Institutions with Article 1 These Provisions are formulated in accordance with the Regulations of the People’s Republic of China for the Administration of Financial Article 2 The financial institutions with foreign capitals refer, for the purpose of these Provisions, to the foreign-capital and Chinese-foreign Article 3 The People’s Bank of China is responsible for the examination and administration of the qualifications of the middle-ranking and senior Article 4 The middle-ranking and senior managerial personnel refer, within the purview of these Provisions, to: 1. presidents, Vice-presidents, general managers, deputy general managers, governors and deputy governors of wholly foreign-capital financial 2. general managers, deputy general managers, governors, deputy governors or governors of the subsidiary banks of foreign financial institutions 3. the chief management personnel such as chief accounting officers, chief actuaries, etc. who are involved in the day-to-day management 4. the general representatives, chief representatives, and residents of the representative offices of foreign financial institutions. Article 5 The middle-ranking and senior managerial personnel must abide by the laws and regulations of the People’s Republic of China, are equipped Article 6 In addition to the requirements laid down in Article 5 , the position of a middle-ranking or senior manager in a financial institution 1. To qualify for the position of chairman, vice-chairman, general manager, governor of foreign-capital or Chinese-foreign equity joint 2. To qualify for the position of a deputy general manager, deputy governor, governor of a bank subsidiary, chief accounting officer 3. To qualify for the position of a general representative of the representative office in China of a foreign financial institution, 4. To qualify for the position of chief representative of the representative office in China of a foreign financial institution, the 5. To qualify for the position of representative of the representative office in China of a foreign financial institution, the candidate 6. To qualify for the position of a senior manager of a financial institution with foreign capitals, the candidate must be between the 7. The tenure for a senior manager of a financial institution with foreign capitals shall be no shorter than 2 years. Article 7 Changes in the middle-ranking and senior managerial personnel of a financial institution with foreign capitals in China shall be subject Article 8 The People’s Bank of China adopts the system of tiered examination and appraisal of the qualifications of middle-ranking and senior 1. The head office of the People’s Bank of China is responsible for the examination and identification of the qualifications of the following 1) Chairmen, vice-chairmen, general managers and governors of wholly foreign-capital financial institutions and Chinese-foreign equity 2) Governors, general managers of the subsidiaries in China of foreign financial institutions; 3) General representatives and chief representatives of the representative offices in China of financial institutions with foreign capitals; The qualification documents and information shall be first examined and confirmed as appropriately prepared by the local branch of 2. The local branches of the People’s Bank of China are responsible for the examination and endorsement of the qualifications of the 1) Deputy general managers, deputy governors and governors of branches of financial institutions with foreign capitals; 2) The important managerial personnel such as chief accounting officers and chief actuaries that participate in the day-to-day management 3) The representatives of the representative offices of foreign financial institutions; The local branches of the People’s Bank of China shall, upon the examination and approval, submit the relevant documentation and information Article 9 The following information shall, in addition to the documentation and information that shall be provided in accordance with the pertinent 1. Certificates of education, identity cards or photocopies of the passports; 2. Photocopies of certificates of qualifications for accountants and actuaries. All the required documentation listed above shall be authentic and reliable. The People’s Bank of China shall mete out penalties according Article 10 The repudiation of qualifications for such posts shall be governed with reference to the Interim Provisions for the Administration Article 11 These Provisions shall prevail where the provisions of other Rules come into conflict with these Provisions concerning the qualifications Article 12 These Provisions shall be interpreted by the People’s Bank of China. Article 13 These Provisions shall enter into force as of the date of promulgation. |
The People’s Bank of China
1997-05-15