上海外资金融机构、中外合资金融机构管理办法 MEASURES FOR THE ADMINISTRATION OF FOREIGN-CAPITAL FINANCIAL INSTITUTIONS AND

ing items：

　　1） adjustment and transfer of the investment capital stock；

　　2） change of the business site；

　　3） change of the chairman （or the vice-chairman） of the board of directors， or the president （or the vice-president）， the general manager（or the deputy general manager）， or the president （or vice-president） of a branch office； and

　　4） establishment of a branch office outside China.

　　Chapter III Registered Capital and Operating Funds

　　Article 17 The minimum amount of the registered capital of a foreign bank or a joint bank shall be freely convertible currencies equivalent to US$ 30 million. The minimum amount of the registered capital of a joint financial company shall be freely convertible currencies equivalent to US$ 20 million. Their respective paid-in capital shall be no less than 50 percent of their respective registered capital. A foreign branch bank shall be allocated as its operating funds by its head office a sum of freely convertible currencies equivalent to not less than US$ 10 million.

　　Article 18 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall， within 30 days of receipt of the certificate of approval issued by the People's Bank of China， raise in full the paid-in capital operating funds， which shall be verified by a Chinese registered accountant， who shall， upon verification， issue a certificate to that effect.

　　Article 19 Each year， a foreign bank， a joint bank， or a joint financial company shall allocate 25 percent of its after-tax net profit as supplementary capital until the total amount of the paid-in capital and reserve funds is twice that of the registered capital. Each year， a foreign branch bank shall keep 25 percent of its after-tax net profit inside China to supplement its operating funds until the kept profit is equal to its operating funds.

　　Chapter IV Business Scope

　　Article 20 The People's Bank of China shall， based on the application submitted to it， grant permission to a foreign bank， a joint bank， or a foreign branch bank to engage in part or all of the following business

operations：

　　1） deposits in foreign currencies；

　　2） loans in foreign currencies；

　　3） discounts of negotiable instruments in foreign currencies；

　　4） investments in foreign currencies；

　　5） remittances in foreign currencies；

　　6） guarantees of foreign exchange；

　　7） import and export settlement；

　　8） buying and selling of foreign exchange on its own account or on customers' account；

　　9） buying and selling of securities in foreign currencies；

　　10） acting as an agent for the exchange of foreign currencies and for the cashing of negotiable instruments in foreign currencies；

　　11） acting as an agent for payments against credit cards in foreign currencies；

　　12） custody and safe deposit box services；

　　13） credit and financial standing investigation and consultancy services； and

　　14） other services approved.

　　Article 21 The People's Bank of China shall， based on the application submitted to it， grant permission to a joint financial company to engage in part or all of the following business operations：

　　1） loans in foreign currencies；

　　2） discounts of negotiable instruments in foreign currencies；

　　3） investments in foreign currencies；

　　4） guarantees of foreign exchange；

　　5） buying and selling of securities in foreign currencies；

　　6） credit and financial standing investigations and consultancy services；

　　7） trust in foreign currencies；

　　8） deposits in foreign currencies with each deposit amounting to not less than US$ 100，000 for period of no less than three months； and

　　9） other services approved.

　　Article 22 The terms “deposits in foreign currencies” referred to in this Chapter denotes the following deposits denominated in foreign currencies：

　　1） inter bank deposits inside and outside China；

　　2） non-inter bank deposits outside China；

　　3） deposits by foreigners inside China；

　　4） deposits by overseas Chinese and by compatriots from Hong Kong， Macao and Taiwan；

　　5） deposits by enterprises with foreign investment；

　　6） deposits of loans granted by foreign-capital financial institutions or Chinese-foreign equity joint financial institutions to enterprises other than those with foreign investment； and

　　7） other kinds of deposits approved.

　　Article 23 In handling import and export settlement， foreign banks， joint banks or foreign branch banks shall offer services only to enterprises with foreign investment and those enterprises other than those with foreign investment which are authorized to engage in import and export operations. But with respect to import settlement with enterprises other than those with foreign investment， the funds needed for the import in question shall have come from the loans of the bank which is handling the settlement.

　　Chapter V Management of Business

　　Article 24 A foreign-capital institution or a Chinese-foreign equity joint financial institution which engages in deposit business operations shall place deposit reserves with the Shanghai Branch of the People's Bank of China. The ratios of the reserves as against various deposits shall be determined by the People's Bank of China and shall be adjusted in accordance with the actual neds. Such deposit reserves shall be interest-free.

　　Article 25 The total amount of loans which a foreign-capital financial institution or a Chinese-foreign equity joint financial institution grants to any one enterprise and its associated enterprises may not exceed 30 percent of the sum total of its paid-in capital and its total reserves， with the exception of loans specially approved by the People's Bank of China.

　　Article 26 The total amount of investments by a foreign-capital financial institution or by a Chinese-foreign equity joint financial institution may not ex

ceed 30 percent of the sum total of its paid-in capital and its total reserves， with the exception of investments in financial enterprises approved by the People's Bank of China.

　　Article 27 The total assets of a foreign-capital financial institution or of a Chinese-foreign equity joint financial institution may not exceed 20 times the sum total of its paid-in capital and its total reserves.

　　Article 28 30 percent of the operating funds of a foreign branch bank shall be put by in the form of interest-bearing assets as prescribed by the People's Bank of China， which shall include depositing the said funds in a bank or banks designated by the People's Republic of China.

　　Article 29 Real estate owned by a foreign-capital financial institution or by a Chinese-foreign equity joint financial institution may not exceed 25 percent of the sum total of its paid-in capital and its total reserves； its other assets may not exceed 15 percent there of.

　　Article 30 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall ensure the mobility of its assets.

　　Article 31 The total amount of deposits by sources inside China in a foreign-capital financial institution or in a Chinese-foreign equity joint financial institution may not exceed 40 percent of its total assets inside China.

　　Article 32 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall maintain proper reserves for bad debts in accordance with the relevant provisions.

　　Article 33 The interest rates of deposits and loans of a foreign-capital financial institution or of a Chinese-foreign equity joint financial institution and the various service charges shall be determined by the Bankers' Association through consultation or be fixed in the light of the international market and shall be submitted to the Shanghai Branch of the People's Bank of China for approal.

　　Article 34 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall， in accordance with the relevant provisions， draw the reserve fund， the staff bonus fund， the welfare fund and the enterprise development fund from the profit after tax paid in accordance with the law.

　　Article 35 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall engage at least one Chinese citizen as member of its senior managerial body. The senior managerial personnel of a foreign-capital financial institution or of a Chinese-foreign equity joint financial institution may not concurrently hold important positions in any other economic organizations.

　　Article 36 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall invariably appoint a Chinese registered accountant and such an appointment is subject to confirmation by the Shanghai Branch of the People's Bank of China.

　　Chapter VI Supervision and Inspection

　　Article 37 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall set up a sound internal auditing system and enhance its own ability of self-restraint.

　　Article 38 A foreign-capital financial institution or a Chinese-foreign equity joint financial institution shall submit its financial and business statements to the People's Bank of China in accordance with the relevant provisions.

　　Article 39 The People's Bank of China and its Shanghai Branch shall have the right to examine and audit the business

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