The People’s Bank of China Circular of People’s Bank of China on Issue Concerning Implementing the Measures on Administrating the Financial Companies of Enterprise YinFa [2000] No.218 July 13, 2000 The branches and business management departments of People’s Bank of China, financial companies supervised directly by the General Measures on Administrating the Financial Companies of Enterprise Groups (hereinafter referred to as Measures) is issued by Decree 1. On the problem of interim of the financial company The financial company set up before the promulgation of the Measures should be standardized according to the requirements of Measures. 2. On the problem of branches The financial company can’t set the branches in principle, but it shall be handled separately if the corporate body is changed into 3. On the problem of transferring and closing an account inside of the financial company Transferring and Closing an account inside a financial company should be strictly limited among the member units. It should report 4. On the problem of issuing bond of the financial company With a view to raising middle or long-term fund to support the technique reform of the enterprise and meet the index of proportion Each branch and business management departments of People’s Bank of China should organize the financial companies in the district |
The People’s Bank of China
2000-07-13