Chapter I General provisions article in order to regulate the CBRC and its local agencies administrative license non-bank financial institutions, administrative licensing items, conditions, procedures and time limit for, protect legitimate rights and interests, in accordance with the People's Republic of China banking supervision law and the People's Republic of China Law on administrative licensing, laws, administrative regulations and the relevant decisions of the State Council, these measures are formulated.

Article referred to non-bank financial institutions, including the China Banking Regulatory Commission approved the establishment of the financial assets management companies, finance companies, financial leasing companies, auto finance companies, money brokerage companies, consumer finance companies and foreign representative bodies such as the Department of non-bank financial institutions.

Article CBRC and its local agencies in accordance with these measures and the China Banking Regulatory Commission for the implementation of administrative licensing procedures regulations on non-bank financial institutions, the implementation of administrative licensing.

Fourth non-bank financial institutions, the following matters shall be licensed by the CBRC and its local agencies: institutions, institutional change, termination, adjusting the scope of business and increasing business varieties, qualifications of Directors and senior management, as well as the laws, administrative rules and regulations and the decisions of other administrative licensing items.

Applicants shall, in accordance with section v of the China Banking Regulatory Commission for the non-bank financial institutions of administrative licensing matters concerning application materials list and format requirements for submitting application materials. Second chapter institutions established first section group financial company corporate institutions established sixth article established group financial company (following referred to financial company) corporate institutions should has following conditions: (a) does is concentrated management group funds of need, by reasonable forecast can reached must of business scale; (ii) has meet People's Republic of China company law and silver prison will provides of company articles; (three) has meet provides conditions of funded people; (four) registered capital for one-time real paid capital,

Minimum limit for 100 million Yuan Yuan or equivalent of can free exchange currency; (five) has meet served qualification conditions of Director, and senior management personnel, and in risk management, and funds management, and credit management, and settlement, key post Shang at least the has 1 name has 3 years above related financial practitioners experience of personnel; (six) financial company practitioners in the engaged in financial or financial work 3 years above of personnel should not below total number of two-thirds, and 5 years above of personnel should not below total number of one-third;

(Seven) established has effective of company governance, and internal control and risk management system; (eight) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures; (nine) has and business business phase adapted of business places, and security prevention measures and other facilities; (ten) silver prison will regulations provides of other carefully sex conditions.

Seventh financial company investor should mainly be members of the corporate group, including members outside strategic investors with rich industry management experience.

Except national limit external investors into and by Silver prison will prior agreed of special industry of group outside, new set financial company due rich banking management experience of strategy investors as funded people; or and commercial banks established strategy cooperation partners relationship, by its for intends established financial company provides institutions set, and system construction, and business process design, and risk management, and personnel training, aspects of advisory recommends, and at least introduced 1 name has 5 years above banking practitioners experience of senior management personnel. Eighth article application established financial company of group, should has following conditions: (a) meet national industry policy and has core main; (ii) recently 1 a fiscal year late, by provides and table accounting of members units of assets total not below 5 billion Yuan Yuan, net worth not below assets total of 30%; (three) financial status good, recently 2 a fiscal year by provides and table accounting of members units business income total annual not below 4 billion Yuan Yuan,

Tax Qian profit total annual not below 200 million Yuan Yuan; (four) cash flow stable and has larger scale; (five) mother company established 2 years above, has 2 years above group internal financial and funds concentrated management experience; (six) mother company recently 1 a fiscal year late of real received capital not below 800 million Yuan Yuan; (seven) mother company has good of company governance structure or effective of organization management way, all Dang associated trading;

(Eight) mother company has good of social reputation, and integrity records and tax records, recently 2 years within no major illegal violations business records; (nine) mother company shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares; (ten) members units number more, need through financial company provides funds concentrated management and service; (11) silver prison will regulations provides of other carefully sex conditions.

Nineth article members units as financial company funded people, should has following conditions: (a) law established, has corporate qualification; (ii) has good of company governance structure or effective of organization management way; (three) has good of social reputation, and integrity records and tax records; (four) business management good, recently 2 years no major illegal violations business records; (five) financial status good, recently 2 a fiscal year continuous profit; (six) recently 1 a fiscal year late net assets not below total assets of 30%;

(G) the share capital of its own money, not to own capital shares such as trust funds, debt funds, (VIII) the investments in line with provisions of national laws or regulations; (IX) other prudent requirements as prescribed by the regulations of the CBRC.

Tenth Article members units yiwai of strategy investors as financial company funded people, should has following conditions: (a) law established, has corporate qualification; (ii) has 3 years above business management financial company or similar institutions of success experience; (three) has good of company governance structure, and internal control mechanism and sound of risk management system; (four) financial status good, recently 2 a fiscal year continuous profit; (five) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares;

(F) the commitment not to transfer the financial company's stock within 5 years (except according to law to order the transfer of the CBRC) and set out in the proposed articles of Association; (VII) other prudent requirements as prescribed by the regulations of the CBRC. 11th article members units yiwai of strategy investors for financial institutions of, except should meet this approach tenth article provides of conditions zhiwai, also should has following conditions: (a) funding letter good, recently 2 years not by both inside and outside regulatory institutions of major punishment; (ii) meet where national or area regulatory authorities of carefully regulatory requirements; (three) strategy investors for outside financial institutions of, its recently 1 a fiscal year late total assets in principle not less than 1 billion dollars,

And international rating agency approved by the CBRC's long-term credit rating on it the last 2 years for good and above (iv) country financial supervision authority has with the CBRC to establish good cooperation on supervision and management mechanism, (v) other prudent requirements as prescribed by the regulations of the CBRC.

12th article members units yiwai of strategy investors for non-financial enterprise of, except should meet this approach tenth article provides of conditions zhiwai, also should has following conditions: (a) has good of social reputation, and integrity records and tax records; (ii) business management good, recently 2 years no major illegal violations business records; (three) recently 1 a fiscal year late net assets not below total assets of 30%; (four) the items investment meet national legal, and regulations provides; (five) silver prison will regulations provides of other carefully sex conditions.

13th article has following case one of of enterprise shall not as financial company of funded people: (a) company governance structure and mechanism exists obviously defects; (ii) equity relationship complex and not transparent, and associated trading exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level; (six) generation others holds financial company equity;

(VII) other cases of significant adverse effects on financial companies.

14th an application for establishing a finance company, Board of Directors of the parent company shall make a written commitment to pay at financial companies difficult emergency situation, in accordance with the practical need of solutions to payment difficulties, increasing capital and finance companies set out in the regulations.

15th single strategic investor and related party (non-members) to the finance invested proportion shall not exceed 20% and investment financial company shares shall not be more than 2.

16th a group can only set up a financial company.

17th finance company shall cover the establishment and opened in two stages. 18th lead financial companies of enterprise groups, and should be made by the parent company as the applicant submit an application to be established banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. 19th finance company's establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 20th finance company opened up to the parent company as the applicant submitting applications to the banking Board to be established, by the banking regulatory Bureau to receive, review and decision.

Banking Board acceptance within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

21st the applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Finance companies shall be from the date of registration within 6 months of opening. Cannot be opened, should be opened before the expiration of 1 month opening delayed report to the CBRC.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission, issuing authority to recover financial license, and shall be published.

22nd foreign-invested financial companies the application of the provisions of this section of the company applying for the establishment of conditions and procedures. Section II financial leasing of corporate organizations to set up financial leasing companies corporate bodies established under article 23rd, subject to the following conditions:
(A) has meet People's Republic of China company law and silver prison will provides of company articles; (ii) has meet provides conditions of sponsors; (three) registered capital for one-time real paid capital, minimum limit for 100 million Yuan Yuan or equivalent of can free exchange currency; (four) has meet served qualification conditions of Director, and senior management personnel, and practitioners in the has financial or financing rental work experience 3 years above of personnel should not below total number of 50%; (five) established has effective of company governance, and

Internal control and risk management system; (six) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures; (seven) has and business business phase adapted of business places, and security prevention measures and other facilities; (eight) silver prison will regulations provides of other carefully sex conditions.

24th sponsor of financial leasing companies in China including domestic and overseas commercial banks registered with independent legal personality, registered in China, main business is manufacturing products for large enterprises for finance lease transactions, registered outside China's finance leasing companies and other sponsors approved by the CBRC.

Other sponsors approved by the CBRC means the present measures other than the sponsor of the 25th to the 27th article in the territory of other corporate bodies and overseas financial institutions.

25th article in China both inside and outside registered of has independent corporate qualification of commercial banks as financial rental company sponsors, should has following conditions: (a) meet where national or area regulatory authorities of carefully regulatory requirements; (ii) has good of company governance structure, and internal control mechanism and sound of risk management system; (three) recently 1 years end total assets not below 80 billion Yuan Yuan or equivalent of can free exchange currency; (four) financial status good, recently 2 a fiscal year continuous profit;

(Five) for intends established financial rental company determine has clear of development strategy and clear of profit mode; (six) comply with registered to legal regulations, recently 2 years within not occurred major case or major illegal violations behavior; (seven) outside commercial banks as sponsors of, its where national or area financial regulatory authorities has and silver prison will established good of supervision management cooperation mechanism; (eight) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares;

(I) within 5 years of commitment not to transfer the financial leasing companies (except according to law to order the transfer of the CBRC), does not hold financial leasing companies to pledge or to establish a trust, and set out in the proposed articles of Association; (j) other prudent requirements as prescribed by the regulations of the CBRC.

26th article in China territory registered of, and main business for manufacturing for financing rental trading products of large as financial rental company sponsors, should has following conditions: (a) has good of company governance structure or effective of organization management way; (ii) recently 1 years of business income not below 5 billion Yuan Yuan or equivalent of can free exchange currency; (three) financial status good, recently 2 a fiscal year continuous profit; (four) recently 1 years end net worth not below total assets of 30%;

(Five) recently 1 years main business sales income accounted for all business income of 80% above; (six) for intends established financial rental company determine has clear of development strategy and clear of profit mode; (seven) has good of social reputation, and integrity records and tax records; (eight) comply with national legal regulations, recently 2 years within not occurred major case or major illegal violations behavior; (nine) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares;

(J) within 5 years of commitment not to transfer the financial leasing companies (except according to law to order the transfer of the CBRC), does not hold financial leasing companies to pledge or to establish a trust, and set out in the proposed articles of Association and (11) other prudent requirements as prescribed by the regulations of the CBRC. 27th article in China outside registered of has independent corporate qualification of financing rental company as financial rental company sponsors, should has following conditions: (a) has good of company governance structure, and internal control mechanism and sound of risk management system; (ii) recently 1 years end total assets not below 10 billion Yuan Yuan or equivalent of can free exchange currency; (three) financial status good, recently 2 a fiscal year continuous profit; (four) comply with registered to legal regulations,

Recently 2 years within not occurred major case or major illegal violations behavior; (five) where national or area economic status good; (six) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares; (seven) commitment 5 years within not transfer by holding some financial rental company equity (Silver prison will law ordered transfer of except), and not will by holding some financial rental company equity for pledge or established trust, and in intends set company articles in the contains Ming; (eight) silver prison will regulations provides of other carefully sex conditions.

28th financial leasing company should have at least one line with sponsors of the 25th to the 27th article, and proportion of not less than the proposed financial leasing company total equity 30%.

29th article other territory corporate institutions as financial rental company sponsors, should has following conditions: (a) has good of company governance structure or effective of organization management way; (ii) has good of social reputation, and integrity records and tax records; (three) business management good, recently 2 years within no major illegal violations business records; (four) financial status good, recently 2 a fiscal year continuous profit; (five) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares;

(F) within 5 years of commitment not to transfer the financial leasing companies (except according to law to order the transfer of the CBRC), does not hold financial leasing companies to pledge or to establish a trust, and set out in the proposed articles of Association; (VII) other prudent requirements as prescribed by the regulations of the CBRC.

Other domestic legal entities for non-financial institutions, net assets shall not be less than the total assets at the end of the last 1 years 30%; other domestic legal entities for financial institutions, should comply with the financial institutions relating to the laws, regulations and regulatory requirements. 30th article other outside financial institutions as financial rental company sponsors, should has following conditions: (a) meet where national or area regulatory authorities of carefully regulatory requirements; (ii) has good of company governance structure, and internal control mechanism and sound of risk management system; (three) recently 1 years end total assets in principle not below 1 billion dollars or equivalent of can free exchange currency; (four) financial status good, recently 2 a fiscal year continuous profit; (five) shares funds for owned funds,

Not to delegate funds, and debt funds, non-owned funds shares; (six) commitment 5 years within not transfer by holding some financial rental company equity (Silver prison will law ordered transfer of except), and not will by holding some financial rental company equity for pledge or established trust, and in intends set company articles in the contains Ming; (seven) where national or area financial regulatory authorities has and silver prison will established good of supervision management cooperation mechanism; (eight) has effective of anti-money-laundering measures; (nine) where national or area economic status good;

(J) other prudent requirements as prescribed by the regulations of the CBRC.

31st article has following case one of of enterprise shall not as financial rental company of sponsors: (a) company governance structure and mechanism exists obviously defects; (ii) associated Enterprise many, and equity relationship complex and not transparent, and associated trading frequently and exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level; (six) generation others holds financial rental company equity;

(VII) other cases of significant adverse effects on the financial leasing company.

32nd financial leasing company sponsors should be specified in the Finance Leasing Association, during the payment difficulties in financial leasing companies, provide liquidity support when operating losses eroded capital, make up the capital in a timely manner.

33rd single investor and its affiliates invest in financial leasing companies shall not exceed 2, holding not more than 1.

34th financial leasing companies shall cover the establishment and opened in two stages. 35th preparation financial leasing company, as the applicant by the largest proportion of funding sponsors submitting applications to the banking Board are proposed, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. 36th financial leasing company's establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 37th financial leasing company, as the applicant by the largest proportion of funding sponsors submitting applications to the banking Board to be established, by the banking regulatory Bureau to receive, review and decision.

Banking Board acceptance within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

38th the applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Financial leasing companies shall, from the date of business license within 6 months of opening. Cannot be opened, should be opened before the expiration of 1 month opening delayed report to the CBRC.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission, issuing authority to recover financial license, and shall be published. Auto finance company incorporated in section III a 39th corporate institution of establishment of an auto financing company shall satisfy the following conditions: (a) is consistent with the People's Republic of China company law and the articles of association provisions of the CBRC; (b) that complies with the requirements of investors, (iii) the registered capital for a one-time paid-up capital, a minimum of 500 million Yuan, or equivalent in freely convertible currencies;
(Four) has meet served qualification conditions of Director, and senior management personnel and familiar car financial business of qualified practitioners; (five) established has effective of company governance, and internal control and risk management system; (six) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures; (seven) has and business business phase adapted of business places, and security prevention measures and other facilities;

(VIII) other prudent requirements as prescribed by the regulations of the CBRC.

40th investor of an auto financing company in China legally established inside and outside of the corporate enterprise, which the main contributor for the production or sales of auto enterprise or a non-bank financial institutions.

Main contributor referred to in the preceding paragraph refers to the investor the amount up to and contributions of no less than the proposed auto finance company's total equity 30% of the people.

Contributors shall have at least 1 auto finance company with more than 5 years a wealth of auto finance business management and risk control; or for auto finance companies to introduce qualified professional management team, including at least 1 rich auto finance experience of senior managers and 1 risk management professionals. 41st article non-financial institutions as car financial company funded people, should has following conditions: (a) recently 1 years end total assets not below 8 billion Yuan Yuan or equivalent of can free exchange currency, years business income not below 5 billion Yuan Yuan or equivalent of can free exchange currency; (ii) recently 1 a fiscal year late net assets not below assets total of 30%; (three) business performance good, recently 2 a fiscal year continuous profit; (four) shares funds for owned funds, shall not to delegate funds, and

Debt funds, non-owned funds shares; (five) comply with registered to legal regulations, recently 2 years within no major illegal violations behavior; (six) commitment 5 years within not transfer by holding some car financial company equity (Silver prison will law ordered transfer of except), and in intends set company articles in the contains Ming; (seven) silver prison will regulations provides of other carefully sex conditions.

42nd article non-bank financial institutions as car financial company funded people, except should has 41st article third items to sixth items provides of conditions outside, also should has following conditions: (a) registered capital not below 300 million Yuan Yuan or equivalent of can free exchange currency; (ii) has good of company governance structure, and internal control mechanism and sound of risk management system; (three) meet where national or area regulatory authorities of carefully regulatory requirements.

43rd article has following case one of of enterprise shall not as car financial company of funded people: (a) company governance structure and mechanism exists obviously defects; (ii) associated Enterprise many, and equity relationship complex and not transparent, and associated trading frequently and exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level; (six) generation others holds car financial company equity;

(VII) other cases of significant adverse effects on the auto finance company.

44th an auto financing company shall cover the establishment and opened in two stages. 45th preparation auto finance company, main contributor should be submitted as an applicant to the proposed banking Board application, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. 46th Automobile finance company's establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 47th auto financing companies, by the main contributor, as the applicants submitting applications to the banking Board to be established, by the banking regulatory Bureau to receive, review and decision.

Banking Board acceptance within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

48th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. An auto financing company shall obtain business licenses within 6 months of opening. Cannot be opened, should be opened before the expiration of 1 month opening delayed report to the CBRC.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission, issuing authority to recover financial license, and shall be published. Fourth section currency brokers company corporate institutions established 49th article established currency brokers company corporate institutions should has following conditions: (a) has meet People's Republic of China company law and silver prison will provides of company articles; (ii) has meet provides conditions of funded people; (three) registered capital for one-time real paid capital, minimum limit for 20 million Yuan Yuan or equivalent of can free exchange currency; (four) has meet served qualification conditions of Director, and Senior management personnel and familiar currency brokers business of qualified practitioners; (five) practitioners in the due 60% above engaged in had financial work or related economic work; (six) established has effective of company governance, and internal control and risk management system; (seven) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures; (eight) has and business business phase adapted of business places, and

Safety measures and other facilities, and (IX) other prudent requirements as prescribed by the regulations of the CBRC.

50th article application in territory owned or and territory funded people joint venture established currency brokers company of outside funded people should has following conditions: (a) for where national or area law established of currency brokers company; (ii) where national or area financial regulatory authorities has and silver prison will established good of supervision management cooperation mechanism; (three) engaged in currency brokers business 20 years above, business sound, internal control sound effective; (four) has good of social reputation, and integrity records and tax records;

(Five) recently 2 years within no major illegal violations business records; (six) business performance good, recently 2 a fiscal year continuous profit; (seven) has engaged in currency brokers service by required of global institutions network and information communications network; (eight) has effective of anti-money-laundering measures; (nine) commitment 5 years within not transfer by holding some currency brokers company equity (Silver prison will law ordered transfer of except), and in intends set company articles in the contains Ming; (ten) silver prison will regulations provides of other carefully sex conditions. 51st article application established currency brokers company or and outside funded people joint venture established currency brokers company of territory funded people should has following conditions: (a) for law established of non-bank financial institutions, meet carefully regulatory requirements; (ii) engaged in currency market, and Exchange, agent business 5 years above; (three) has good of company governance structure, and internal control mechanism and sound of risk management system; (four) has good of social reputation, and integrity records and tax records,

Recently 2 years within no major illegal violations business records; (five) business performance good, recently 2 a fiscal year continuous profit; (six) commitment 5 years within not transfer by holding some currency brokers company equity (Silver prison will law ordered transfer of except), and in intends set company articles in the contains Ming; (seven) silver prison will regulations provides of other carefully sex conditions.

52nd article has following case one of of enterprise shall not as currency brokers company of sponsors: (a) company governance structure and mechanism exists obviously defects; (ii) associated Enterprise many, and equity relationship complex and not transparent, and associated trading frequently and exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level; (six) generation others holds currency brokers company equity;

(VII) other brokerage firms have a significant adverse impact of the currency situation.

53rd money brokerage companies shall cover the establishment and opened in two stages. 54th preparation money brokerage firms, investment should be the largest investor as the applicants submitting applications to the banking Board to be established, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. 55th money brokerage company's establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 56th money broker business, investment should be the largest investor as the applicants submitting applications to the banking Board to be established, by the banking regulatory Bureau to receive, review and decision.

Banking Board acceptance within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

57th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Currency brokers since the date of business license within 6 months of opening. Cannot be opened, should be opened before the expiration of 1 month opening delayed report to the CBRC.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission, issuing authority to recover financial license, and shall be published. Fifth section consumption financial company corporate institutions established 58th article established consumption financial company corporate institutions should has following conditions: (a) has meet People's Republic of China company law and silver prison will provides of company articles; (ii) has meet provides conditions of funded people; (three) registered capital for one-time real paid capital, minimum limit for 300 million Yuan Yuan or equivalent of can free exchange currency; investee (four) has meet served qualification conditions of Director, and Senior managers and qualified staff familiar with consumer finance business;
(Five) established has effective of company governance, and internal control and risk management system; (six) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures; (seven) has and business business phase adapted of business places, and security prevention measures and other facilities; (eight) silver prison will regulations provides of other carefully sex conditions. 59th funded a consumer financial company shall lawfully established enterprise inside and outside China, and is divided into the main contributors and contributors in General.

Main contributor is the financed amount up and amount is not less than the proposed consumer financial company's total equity of 30% investor, investor refers to other contributors except the main contributor.

Main contributor referred to in the preceding paragraph shall be domestic and foreign financial institution or business to provide for non-financial enterprises in consumer lending products. 60th article financial institutions as consumption financial company of main funded people, should has following conditions: (a) has 5 years above consumption financial field of practitioners experience; investee (ii) recently 1 years end total assets not below 60 billion Yuan Yuan or equivalent of can free exchange currency; (three) financial status good, recently 2 a fiscal year continuous profit; (four) reputation good, recently 2 years within no major illegal violations business records; (five) shares funds for owned funds, shall not to delegate funds, and Debt funds, non-owned funds shares; investee (six) commitment 5 years within not transfer by holds of consumption financial company equity (Silver prison will law ordered transfer of except), and in intends set company articles in the contains Ming; investee (seven) has good of company governance structure, and internal control mechanism and sound of risk management system; investee (eight) meet where national or area regulatory authorities of carefully regulatory requirements; investee (nine) outside financial institutions should China market has full of analysis and research,

And the country's financial supervisory authority has with the CBRC to establish good cooperation on supervision and management mechanism and (j) other prudent requirements as prescribed by the regulations of the CBRC.

Financial institutions as a consumer financial company investors, in addition to the conditions provided in the preceding paragraph to the Nineth outside, registered capital shall not be less than RMB 300 million or its equivalent in a convertible currency. 61st article non-financial enterprise as consumption financial company main funded people, should has following conditions: (a) recently 1 years business income not below 30 billion Yuan Yuan or equivalent of can free exchange currency; (ii) recently 1 a fiscal year late net assets not below assets total of 30%; (three) financial status good, recently 2 a fiscal year continuous profit; (four) reputation good, recently 2 years within no major illegal violations business records; (five) shares funds for owned funds, shall not to delegate funds, and

Non-debt capital own capital shares; (f) within 5 years of commitment not to transfer a consumer financial company shares held by (except according to law to order the transfer of the CBRC), and set out in the proposed articles of Association; (VII) other prudent requirements as prescribed by the regulations of the CBRC.

Non-financial business as a consumer financial company investor, should have a second between the sixth and the conditions provided for in the preceding paragraph.

62nd article has following case one of of enterprise shall not as consumption financial company of funded people: (a) company governance structure and mechanism exists obviously defects; (ii) associated Enterprise many, and equity relationship complex and not transparent, and associated trading frequently and exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level; (six) generation others holds consumption financial company equity;

(VII) other significant adverse impact on the consumer finance company.

63rd main contributor of a consumer financial company can be specified in the Statute of the consumer financial company, a consumer financial company when encountering payment difficulties, give liquidity support when business failed when losses erode capital, make up the capital in a timely manner.

64th a consumer financial company shall have at least 1 over 5 years consumer finance business management and risk control, and paid no less than the proposed consumer financial company's total equity 15% of the people.

65th a consumer financial company shall cover the establishment and opened in two stages. 66th build consumer-finance company, main contributor should be submitted as an applicant to the proposed banking Board application, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. 67th a consumer financial company's establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 68th opened a consumer financial company, main contributor should be submitted as an applicant to the proposed banking Board application, accepted by the banking regulatory Bureau, review and decision.

Banking Board acceptance within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

69th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. A consumer financial company shall obtain business licenses within 6 months of opening. Cannot be opened, should be opened before the expiration of 1 month opening delayed report to the CBRC.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission, issuing authority to recover financial license, and shall be published. Sixth section financial assets management company branch established 70th article financial assets management company application established branch, should has following conditions: (a) has good of company governance structure; (ii) risk management and internal control sound effective; (three) main carefully regulatory index meet regulatory requirements; (four) has allocated operating funds of capacity; (five) has perfect, and collection rules of information technology system and information security system, has standardization of data management system,

Technical measures of ensuring business continuity and effective security; (vi) no serious violations during the last 2 years and significant cases; (VII) good supervisory ratings and (VIII) other prudent requirements as prescribed by the regulations of the CBRC.

71st article financial assets management company established of branch should has following conditions: (a) operating funds in place; (ii) has meet served qualification conditions of senior management personnel and familiar related business of practitioners; (three) has and business development phase adapted of organization institutions and regulations; (four) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures;

(D) commensurate with the business of the business premises, safety measures and other facilities, and (v) other prudent requirements as prescribed by the regulations of the CBRC.

72nd financial asset management companies to set up branch offices subject to build and opened in two stages. 73rd construction branch of financial asset management companies, by financial asset management companies as applicants submitting applications to the CBRC branch is located is proposed, by the CBRC to be established to receive, review and decision.

CBRC within 4 months from the date of acceptance of approval or disapproval of a written decision, and reported to the CBRC. 74th branch of financial asset management companies preparing for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 75th branch opening of financial asset management companies, by financial asset management companies as applicants submitting applications to the CBRC branch is located is proposed, by the CBRC to be established to receive, review and decision.

The proposed acceptance of CBRC branch is located within 2 months from the date of approval or determinations are not approved, and copy to the CBRC.

76th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Financial asset management Corporation shall, within 6 months from the date of business license business. Cannot be opened, shall be opened before the expiration of 1 month submitted to the CBRC branch is located is proposed opening delayed reports.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission to recover the financial license, and shall be published.

Seventh section financial assets management company investment established, and shares, and acquisition territory corporate financial institutions 77th article financial assets management company application investment established, and shares, and acquisition territory corporate financial institutions of, should meet following conditions: (a) has good of company governance structure; (ii) risk management and internal control sound effective; (three) has good of and table management capacity; (four) main carefully regulatory index meet regulatory requirements;

(Five) interests sex investment balance in principle not over its net worth (merged statements caliber) of 50%; (six) has perfect, and collection rules of information technology system and information security system, has standardization of data management system, has guarantees business continuous effective security run of technology and measures; (seven) recently 2 years no serious illegal violations behavior and major case; (eight) recently 2 a fiscal year continuous profit; (nine) regulatory rating good; (ten) silver prison will regulations provides of other carefully sex conditions. 78th established by financial asset management companies for investment, equity participation, and acquisition of domestic legal institutions by the CBRC, examine and decide.

The CBRC within 6 months from date of acceptance to approve or disapprove the decision in writing. Eighth section of financial asset management companies set up or share, the acquisition of a foreign legal person financial institutions
79th article financial assets management company application investment established, and shares, and acquisition outside corporate financial institutions, should meet following conditions: (a) has good of company governance structure, internal control sound effective, business article line management and risk tube control capacity and outside business development phase adapted; (ii) has clear of overseas development strategy; (three) has good of and table management capacity; (four) main carefully regulatory index meet regulatory requirements;

(Five) interests sex investment balance in principle not over its net worth (merged statements caliber) of 50%; (six) recently 2 a fiscal year continuous profit; (seven) application Qian 1 years end assets balance reached 100 billion Yuan Yuan above; (eight) has and outside business environment phase adapted of professional talent team; (nine) regulatory rating good; (ten) silver prison will regulations provides of other carefully sex conditions.

Foreign legal person financial institutions mentioned in these measures refers to financial asset management companies wholly-owned subsidiary or holding a foreign legal person financial institutions, and wholly-owned subsidiary or subsidiaries and special purpose entities established by a foreign legal person financial institutions. 80th establishment, financial asset management companies to apply for investment shares, the acquisition of a foreign legal person financial institutions accepted by the China Banking Regulatory Commission, for review and decision.

The CBRC within 6 months from date of acceptance to approve or disapprove the decision in writing.

Financial assets management company get Silver prison will approved file Hou should according to intends established, and shares, and acquisition outside corporate financial institutions registered to national or area of legal regulations handle related legal procedures, and in completed related legal procedures Hou 15 a days within silver prison will report established, and shares or acquisition of outside financial institutions of name, and established time, and registered locations, and registered capital, and injection currency species,. Nineth section financial rental company professional subsidiary established 81st article financial rental company application established territory professional subsidiary, should has following conditions: (a) has good of company governance structure, risk management and internal control sound effective; (ii) has good of and table management capacity; (three) the regulatory index meet financial rental company management approach of provides; (four) interests sex investment balance in principle not over net worth (merged statements caliber) of 50%; (five) in business stock, and

Talent reserves, aspects has must advantage, in professional management, and project company business carried out, aspects has mature of experience, can effective support professional subsidiary carried out specific field of financing rental business; (six) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares; (seven) comply with national legal regulations, recently 2 years within not occurred major case or major illegal violations behavior; (eight) regulatory rating good; (nine) silver prison will regulations provides of other carefully sex conditions. 82nd financial leasing companies to set up specialized subsidiaries in the territory should, in principle, 100% holdings, there are special circumstances, it is necessary to introduce other investors, financial leasing company's equity ratio shall not be less than 51%.

Introduction of other investors should be consistent with the approach of the 24th to the 27th and the 29th to the 31st article of conditions of financial leasing company sponsors, and specialized subsidiaries engaged in specific areas of expertise, in areas such as business development, lease management has a comparative advantage, helps raise professional business development and risk management of the subsidiaries. 83rd article financial rental company established of territory professional subsidiary, should has following conditions: (a) has meet People's Republic of China company law and silver prison will provides of company articles; (ii) has meet provides conditions of sponsors; (three) registered capital minimum limit for 50 million Yuan Yuan or equivalent of can free exchange currency; (four) has meet served qualification conditions of Director, and senior management personnel and familiar financing rental business of practitioners; (five) has sound of company governance, and

Internal control and risk management systems, as well as business operations management information systems, (f) commensurate with the business of the business premises, safety measures and other facilities, and (VII) other prudent requirements as prescribed by the regulations of the CBRC.

84th article set up specialized subsidiaries in the territory shall be subject to financial leasing company to build and opened in two stages. 85th financial leasing companies to build specialized subsidiaries in the territory, by financial leasing companies as applicants submitting applications to the proposed establishment of CBRC, also reported financial leasing company is located the banking regulatory Bureau, accepted by the CBRC to be established and preliminary examination, the China Banking Regulatory Commission review and decision. Since the CBRC within 2 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Proposed banking Board in the first instance report the CBRC shall seek prior views of CBRC financial leasing company is located. 86th financial leasing company specialized subsidiaries in the territory of the establishment for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 87th business specialized subsidiaries within a financial leasing company, for the financial leasing company as the applicant submitting applications to the banking Board to be established, by the CBRC to be established to receive, review and decision.

CBRC within 1 month from the date of receipt of approval or determinations are not approved, and copy to the CBRC, CBRC CC financial leasing company is located.

88th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Specialized subsidiaries in the territory shall, within 6 months from the date of business license business. Cannot be opened, shall be opened before the expiration of 1 month to the proposed banking Board opened an extension report submitted.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission to recover the financial license, and shall be published.

89th article financial rental company application established outside professional subsidiary, except applies this approach 81st article provides of conditions outside, also should has following conditions: (a) does have business development need, has clear of overseas development strategy; (ii) internal management level and risk tube control capacity and outside business development phase adapted; (three) has and outside business environment phase adapted of professional talent team; (four) business status good, recently 2 a fiscal year continuous profit;

(V) the application complies with the relevant laws and regulations of the country or region. 90th financial leasing companies to set up specialized subsidiaries abroad, for the financial leasing company as the applicant apply to the local banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 2 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Financial leasing companies approved by the CBRC document should be in accordance with the proposed subsidiary registered in national or regional laws and regulations overseas subsidiary establishment procedures, and in subsidiaries set up within 15 working days after the CBRC report and financial leasing companies the local banking regulatory Bureau outside of subsidiary name, time of establishment, domicile, registered capital, capital currency, and so on. Tenth section financial company outside subsidiary established 91st article financial company application established outside subsidiary, should has following conditions: (a) does is business development and for members units provides financial management service need, has clear of overseas development strategy; (ii) intends set outside subsidiary by service of members units not less than 10 home, and Qian said members units assets total not below equivalent Yu 10 billion Yuan Yuan of can free exchange currency; or members units insufficient 10 home,

But members units assets total not below equivalent Yu 15 billion Yuan Yuan of can free exchange currency; (three) the carefully regulatory index meet about regulatory provides; (four) business status good, recently 2 a fiscal year continuous profit; (five) interests sex investment balance in principle not over net worth (merged statements caliber) of 50%; (six) internal management level and risk tube control capacity and outside business development phase adapted; (seven) has and outside business environment phase adapted of professional talent team;

(H) within the last 2 years no major incidents or serious violation of Act; (IX) regulatory rating well; (j) other prudent requirements as prescribed by the regulations of the CBRC. 92nd financial companies to set up subsidiaries, by the finance company as the applicant apply to the local banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 4 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Financial companies after the CBRC approval document shall be in accordance with the proposed subsidiary registered in national or regional laws and regulations overseas subsidiary establishment procedures, and in subsidiaries set up within 15 working days after the CBRC and the finance company subsidiaries located outside the banking regulatory Bureau report name, time of establishment, domicile, registered capital, capital currency, and so on. 11th section financial company branch established 93rd article financial company due to occurred merged and Division, and across silver prison Council moved site, or belongs group was acquisition or restructuring and application established branch of, should has following conditions: (a) does is business development and for members units provides financial management service need; (ii) intends set branch by service of members units not less than 10 home, and Qian said members units assets total not below 1 billion Yuan Yuan; or members units insufficient 10 home,

But members units assets total not below 2 billion Yuan Yuan; (three) the carefully regulatory index meet about regulatory provides; (four) registered capital not below 300 million Yuan Yuan, has allocated operating funds of capacity; (five) business status good, recently 2 a fiscal year continuous profit; (six) recently 2 years within not occurred major case or major illegal violations behavior; (seven) regulatory rating good; (eight) silver prison will regulations provides of other carefully sex conditions. 94th article financial company established of branch should has following conditions: (a) operating funds in place; (ii) has meet served qualification conditions of senior management personnel and familiar related business of practitioners; (three) has and business development phase adapted of organization institutions and regulations; (four) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures;
(E) commensurate with the business of the business premises, safety measures and other facilities, and (vi) other prudent requirements as prescribed by the regulations of the CBRC.

95th financial company as a result of merger and separation, across the banking Board changes its domicile, or was established branch by acquisition or restructuring of the group to which they belong, should apply together with the aforementioned changes, licensing procedures apply for financial company mergers and Division, CBRC change residence, or their group provided by the acquisition or restructuring of equity changes. 96th branch's lead financial companies for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the legal place of CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should be submitted prior to the expiry of the period prescribed in the preceding paragraph branch opening applications, overdue, set up branch approval failure, up to cancellation of construction licenses. The 97th opening of the finance companies, by financial companies, as the applicants submitting applications to the CBRC branch is located is proposed, by the proposed branch home banking regulatory Bureau to receive, review and make decisions.

The proposed acceptance of CBRC branch is located within 2 months from the date of approval or determinations are not approved, and copy to the CBRC, CC legal local banking regulatory Bureau.

98th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Finance Branch should be since the date of business license of the company within 6 months of opening. Cannot be opened, shall be opened before the expiration of 1 month submitted to the CBRC branch is located is proposed opening delayed reports.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission to recover the financial license, and shall be published.

12th branch of a money broker company set up its 99th branch of a money broker company, including branches and representative offices.

100th article currency brokers company application established branch, should has following conditions: (a) does is business development need, and established has perfect of on branch of business authorized and the management asked accountability system; (ii) registered capital not below 50 million Yuan Yuan or equivalent of can free exchange currency, has allocated operating funds of capacity; (three) business status good, recently 2 a fiscal year continuous profit; (four) recently 2 years no major case or major illegal violations business records;

(E) other prudent requirements as prescribed by the regulations of the CBRC.

101th article currency brokers company established of branch should has following conditions: (a) operating funds in place; (ii) has meet served qualification conditions of senior management personnel and familiar related business of practitioners; (three) has and business development phase adapted of organization institutions and regulations; (four) established has and business business and regulatory requirements phase adapted of information technology schema, has support business business of necessary, and security and collection rules of information system, has guarantees business continued operation of technology and measures;

(E) commensurate with the business of the business premises, safety measures and other facilities, and (vi) other prudent requirements as prescribed by the regulations of the CBRC.

102th money brokerage firms set up branch offices in the preparation stage and the opening two stages. 103th money brokerage companies to build branch shall consist of money brokerage companies as applicants submitting applications to the legal place of CBRC, CBRC also reported the proposed branch is located, by a body corporate local banking regulatory Bureau to receive, review and make decisions. CBRC Corporation is located within 4 months from the date of the acceptance to approve or disapprove the decision in writing.

Corporate local banking regulatory Bureau before making a decision to seek the views of CBRC branch is located is proposed. 104th company branches to build a money broker for a period of 6 months from the date of the approval decision. Failed to finish the construction, should be under construction before the expiration of 1 month to the legal place of CBRC and the proposed banking Board report submitted to build an extension.

Build an extension of no more than once, the extension shall not exceed 3 months.

Applicants should submit applications for approval before the expiry of the period prescribed in the preceding paragraph, overdue, failure of planning approval documents, up to cancellation of construction licenses. 105th branch of the company opened a money broker, shall consist of money brokerage companies as applicants submitting applications to the CBRC branch is located is proposed, by the proposed branch home banking regulatory Bureau to receive, review and make decisions.

The proposed acceptance of CBRC branch is located within 2 months from the date of approval or determinations are not approved, and copy to the CBRC, CC legal local banking regulatory Bureau.

106th applicant shall upon receipt of the file and receive a financial license approved by the open, industrial and commercial registration and business license. Money brokerage Corporation since the date of business license within 6 months of opening. Cannot be opened, shall be opened before the expiration of 1 month submitted to the CBRC branch is located is proposed opening delayed reports.

Opening an extension of no more than once, the extension shall not exceed 3 months.

Not opened within the period prescribed in the preceding paragraph, the opening authorization failure, up to cancellation of business permission to recover the financial license, and shall be published. 107th money brokerage companies according to business needs, a representative office can be more focused areas of business; money brokerage companies as applicants submitting applications to the legal place of CBRC, CBRC also reported the proposed representative office is located, by a body corporate local banking regulatory Bureau to receive, review and make decisions. CBRC Corporation is located within 6 months from date of acceptance to approve or disapprove the decision in writing.

Legal place of banking regulatory Bureau before making a decision to seek the views of representatives at the seat of the banking Board to be established.

13th section outside non-bank financial institutions China representative at established 108th article outside non-bank financial institutions application established China representative at, should has following conditions: (a) where national or area has perfect of financial supervision management system; (ii) is by where national or area financial regulatory authorities approved established of financial institutions, or is financial sex industry association members; (three) has engaged in international financial activities of experience; (four) business status good, recently 2 years within no major illegal violations records;

(E) effective measures against money-laundering (vi) is consistent with the qualifications of the Chief Representative; (VII) other prudent requirements as prescribed by the regulations of the CBRC. 109th foreign non-bank financial institutions to set up representative offices, should be determined by the parent company to be established banking regulatory Bureau submitted the application, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 6 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Section I of chapter III institutional changes institutional change 110th institutional changes of non-bank financial institutions including: change of name, change of ownership or change of equity structure, which changes its registered capital, it changes its domicile, amending the articles, separation or consolidation, financial asset management company which changes its form, as well as other changes that require the approval of the CBRC. 111th financial asset management companies change names by the CBRC, examine and decide. Other non-bank financial institutions to change the name and location of the CBRC or banking regulatory Bureau to receive, review and make decisions. China Banking Regulatory Commission and the China Banking Regulatory Commission or CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing.

Decided by the Commission or CBRC, decisions should be copied by the regulatory authority.

112th all intends to invest in non-bank financial institutions fund-eligibility and non-bank financial institutions, change of ownership or change of equity structure shall be approved, but transfer of financial ownership between members does not exceed the financial company with registered capital of 5%, as well as non-bank financial institutions jointly owned by related parties listed shares did not meet the company's total shares in circulation except 5%.

113th article financial assets management company yiwai of non-bank financial institutions change equity and the adjustment equity structure, intends investment shares of funded people should respectively has following conditions: (a) financial company funded people of conditions applies this approach seventh article to 13th article and the 15th article of provides; (ii) financial rental company funded people of conditions applies this approach 24th article to 33rd article of provides; (three) car financial company funded people of conditions applies this approach 40th article to 43rd article of provides;

(D) money broking company funded the human condition, apply the provisions of this article approaches the 50th to 52nd; (e) a consumer financial company investor article 59th of the conditions for the application of this approach to 64th of the rules.

114th financial asset management companies change or adjust the ownership structure should be eligible investors, including domestic financial institutions and foreign financial institutions, domestic non-financial institutions and other contributors approved by the CBRC.

115th article territory financial institutions as financial assets management company of funded people, should has following conditions: (a) main carefully regulatory index meet regulatory requirements; (ii) company governance good, internal control sound effective; (three) recently 2 a fiscal year continuous profit; (four) social reputation good, recently 2 years no serious illegal violations behavior and major case; (five) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares;

(F) within 5 years of commitment not to transfer equity holdings of financial assets management companies (except according to law to order the transfer of the CBRC), and (VII) other prudent requirements as prescribed by the regulations of the CBRC. 116th article outside financial institutions as financial assets management company of strategy investors, should has following conditions: (a) recently 1 a fiscal year late total assets in principle not less than 10 billion dollars; (ii) silver prison will recognized of international rating institutions recently 2 years on its long-term credit rating for good; (three) recently 2 a fiscal year continuous profit; (four) commercial banks capital sufficient rate should reached its registered to banking capital sufficient rate average level and not below 10.5% Non bank financial institution not less than 10% of total risk-weighted assets capital total; (e) a sound and effective internal control; (vi) registered financial institution supervision and management systems; (g) the host country (region) good economic conditions; (VIII) share capital of its own money, not to trust funds, debt funds, such as own capital shares;
(I) within 5 years of commitment not to transfer equity holdings of financial assets management companies (except according to law to order the transfer of the CBRC), and (j) other prudent requirements as prescribed by the regulations of the CBRC.

117th a single foreign financial institution and its control or joint control is associated to a single financial asset management companies as strategic investors equity investment proportion shall not exceed 20%, more overseas financial institutions and its control or share control of related party as strategic investors invest in total shall not exceed 25%.

118th article territory non-financial institutions as financial assets management company of funded people, should meet following conditions: (a) law established, has corporate qualification; (ii) has good of company governance structure or effective of organization management way; (three) has good of social reputation, and integrity records and tax records, can regular full reimbursement financial institutions of loan principal and interest; (four) has more long of development period and stable of business status; (five) has strong of business management capacity and funds strength;

(Six) financial status good, recently 2 a fiscal year continuous profit; (seven) year-end distribution Hou, net worth reached all assets of 30%; (eight) shares funds for owned funds, shall not to delegate funds, and debt funds, non-owned funds shares; (nine) commitment 5 years within not transfer by holding some financial assets management company equity (Silver prison will law ordered transfer of except); (ten) silver prison will regulations provides of other carefully sex conditions.

119th article exists following case one of of enterprise shall not as financial assets management company of funded people: (a) company governance structure and mechanism exists obviously defects; (ii) associated Enterprise many, and equity relationship complex and not transparent, and associated trading frequently and exception; (three) core main not highlight and its business range involved industry too much; (four) cash flow fluctuations by economic boom effect larger; (five) assets liabilities rate, and financial lever rate above industry average level;

(Vi) financial asset management companies owned by others and (VII) other financial assets management companies have a major negative impact on the situation. 120th change of ownership or change of equity structure of financial assets management company, accepted by the CBRC, review and decision.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing.

Financial company due to belongs Enterprise Group was acquisition or restructuring caused change equity or adjustment equity structure of, financial rental company, and car financial company, and currency brokers company, and consumption financial company due to actual control people change caused change equity or adjustment equity structure of, by location silver prison Council accepted and preliminary review, and silver prison will review and decided, silver prison will since received full application material of day up 3 months within made approved or not approved of written decided.

Financial company, and financial rental company, and car financial company, and currency brokers company, and consumption financial company due to other reasons caused change equity or adjustment equity structure of, by Silver prison branch or location silver prison Council accepted and preliminary review, and silver prison Council review and decided, silver prison Council since accepted or received full application material of day up 3 months within made approved or not approved of written decided, and copy silver prison will.

121th article non-bank financial institutions application change registered capital, should has following conditions: (a) change registered capital Hou still meet silver prison will on the class institutions minimum registered capital and capital sufficient sex of requirements; (ii) increased registered capital introduced new funded people or caused actual control people change of, new funded people or new made actual control people status of funded people should corresponding meet 113th article to 119th article provides of conditions; (three) silver prison will regulations provides of other carefully sex conditions.

122th application to change the registered capital of the non-bank financial institutions licensing procedures apply provisions of the 111th article, which changes its registered capital related to change of ownership or change of equity structure, licensing procedures these procedures apply to 120th of the rules.

123th of non-bank financial institutions for the public offering and listing of shares, as well as non-bank financial institutions have been listed to a rights issue or raise new shares by which changes its registered capital shall comply with the conditions prescribed by the China Securities Regulatory Commission.

Before you apply to the CSRC, the package should be approved by the CBRC or its agency, licensing procedures these procedures apply to 120th of the rules.

124th article of non-bank financial institution changes its domicile, should be consistent with the business development business premises, safety measures and other facilities.

Non-bank financial institutions to apply for residence permit procedure change 111th of the rules applicable to these measures.

125th of non-bank financial institutions to amend the company's articles of Association shall be in conformity with the People's Republic of China company law and the regulation of financial asset management companies, the finance company management measures, the financial leasing Corporation regulations, the auto finance company management methods and the money brokers company administrative rules on pilot pilot, the consumer finance company regulations and the provisions of other relevant laws and regulations.

126th of non-bank financial institutions to apply for licensing procedures for amending the articles of these measures shall apply provisions of the 111th article.

Non-bank financial institutions because of the name change, share, registered capital, residence or place of business, scope of business arising from the earlier approval matters, such as alteration of the articles content, no requests for changes in regulations, revised regulations should be reported to regulators.

127th separation of non-bank financial institutions should be consistent with the relevant laws, administrative regulations and rules and regulations. Division of financial assets management companies, submit an application to the regulator, by the CBRC, examine and decide. CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Separation of other non-bank financial institutions, and submit their applications to the local banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Separation of non-bank financial institutions, and still survives, after expiry of the notice in the Division, and matters relating to change in accordance with the conditions and procedure for the adoption of an administrative license.

After the Division into a new company, after the expiry of the notice in the Division, should be opened in accordance with legal conditions and procedures via administrative permission.

128th of non-bank financial institutions merge should comply with the relevant laws, administrative regulations and rules and regulations. Financial asset management company merger, submit an application to the regulator, by the CBRC, examine and decide. CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Other non-bank financial institutions merged, merged their banking regulatory Bureau to apply and merge the banking regulatory Bureau, where reported to be absorbed, and accepted by the CBRC merger is located and preliminary examination, the China Banking Regulatory Commission review and decision. Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Merged banking regulatory Bureau, where in the first instance report the CBRC should be consulted before being merged seat views of the CBRC. Merger announcement after the expiration, merged party shall change the conditions and procedure for the adoption of an administrative license; the merged party should be dissolved in accordance with legal conditions and procedures via administrative permission.

Be merged into branches, branches should be governed by the terms and procedure of administrative licensing. Financial asset management company consolidation, submit an application to the regulator, by the CBRC, examine and decide. CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Other non-bank financial institutions, consolidation, by one party as the primary institutions submit their applications to the local banking regulatory Bureau and copied to the other party where banking regulatory Bureau, accepted by the main local banking regulatory Bureau and preliminary examination, the China Banking Regulatory Commission review and decision. Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Local banking regulatory Bureau in advance of the trial reported the CBRC should seek the views of other banking regulatory Bureau, where.

Merger by new establishment notice after the expiry, the new agency should be opened in accordance with legal conditions and procedures by administrative license; original Corporation should be dissolved in accordance with legal conditions and procedures via administrative permission.

129th financial asset management company which changes its form, should be consistent with the People's Republic of China company law and the regulation of financial assets management companies, as well as other provisions of laws and administrative rules and regulations. 130th finance asset management company which changes its form, by the CBRC, examine and decide.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Second section subsidiary change 131th article non-bank financial institutions subsidiary must by license of change matters including: financial assets management company outside full funding subsidiary or holding financial institutions change name, and registered capital, and equity, Division or merged, major investment matters (refers to investment for 100 million Yuan Yuan above or investment accounted for its registered capital 5% above of equity investment matters); financial rental company professional subsidiary change name, and change registered capital, and change equity or adjustment equity structure,

Specialized subsidiaries in the territory to amend the company's articles of Association; financial subsidiaries overseas, change of name, change of registered capital of the company, as well as other changes that require the approval of the CBRC. 132th outside financial asset management companies wholly-owned subsidiary or holding financial institution changes its name, registered capital, ownership, Division or merger or major investments, by financial asset management companies to submit applications to the China Banking Regulatory Commission, China Banking Regulatory Commission will receive, review and make decisions.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. 133th financial leasing company specialized subsidiaries in the territory change name from professional affiliates to apply to the Banking Regulatory Commission CBRC branch or location, foreign specialized subsidiaries of the financial leasing company name change, from financial leasing companies to the CBRC or banking regulatory Bureau, where applied, the CBRC or banking regulatory Bureau to receive, review and make decisions.

The CBRC or banking Board shall within 3 months from the date of acceptance to approve or disapprove the decision in writing and copied by the regulatory authority. 134th financial leasing company specializing in subsidiary change of ownership or change of equity structure, to be invested in the investor should comply with the conditions provided for in the 82nd.
Financial leasing company specialized subsidiaries in the territory change of ownership or change of equity structure, by professional affiliates to the CBRC or banking regulatory Bureau, where applied, foreign specialized subsidiaries of the financial leasing company change of ownership or change of equity structure, from financial leasing companies to the CBRC or banking regulatory Bureau, where applied, the CBRC or CBRC accepted, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC.

135th lease finance specialist subsidiary which changes its registered capital, subject to the following conditions: (a) after the change of its registered capital continues to comply with the regulator's regulatory requirements; (b) increase its registered capital to involve new investors and new investors should comply with the conditions provided for in the 82nd, and (iii) other prudent requirements as prescribed by the regulations of the CBRC.

Financial leasing companies specializing in the licensing procedure for the 133th subsidiaries which changes its registered capital requirements if changes its registered capital and a change of ownership or change of equity structure, licensing procedures apply the provisions of article 134th.

136th finance leasing company specialized subsidiaries in the territory to amend the company's articles of Association shall be in conformity with the People's Republic of China law, and the provisions of the interim provisions on the financial leasing company specializing in affiliate management. Financial leasing company specialized subsidiaries in the territory to apply for licensing procedures for amending the articles of the applicable provisions of the 111th article.

Financial leasing company specialized subsidiaries in the territory because of the name change, share, registered capital, scope of business arising from the earlier approval matters, such as alteration of the articles content, no requests for changes in regulations, revised regulations should be to the CBRC or location of CBRC report. 137th financial subsidiaries of the company changes its name or its registered capital from financial companies to apply to the Banking Regulatory Commission CBRC branch or location, the CBRC or banking regulatory Bureau to receive, review and make decisions.

The CBRC or banking Board shall within 3 months from the date of acceptance to approve or disapprove the decision in writing and copied by the regulatory authority. Branches and representative offices in section III the change 138th of non-bank financial institutions branches and representative offices change names, represented by its legal institutions to branch or at the seat of the CBRC or banking regulatory Bureau, where applied, by the CBRC or local banking regulatory Bureau to receive, review and decision.

The CBRC or banking Board shall within 3 months from the date of acceptance to approve or disapprove the decision in writing and copied by the regulatory authority. 139th overseas representative office changed names of non-bank financial institutions, represented by its parent company to submit applications to the CBRC at the seat, by the banking regulatory Bureau to receive, review and decision.

Banking Board shall within 3 months from the date of acceptance to approve or disapprove the decision and reported to the CBRC.

Fourth chapter section legal termination 140th non-bank financial institutions, corporate bodies meet one of the following situations may apply for dissolution: (a) the company operating period as prescribed by the articles expires or the provision of other causes for dissolution occurs; (b) the shareholders ' Meeting decides to dissolve; (c) due to the dissolution of the merger or Division needs; (d) other legal cause.

Set up financial companies of enterprise groups disbanded, the finance company shall apply for dissolution. 141th dissolution of financial asset management companies, submit an application to the regulator, by the CBRC, examine and decide.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Dissolution of other non-bank financial institutions, and submit their applications to the local banking regulatory Bureau, receive and initial review of CBRC, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

142th article non-bank financial institutions corporate institutions has following case one of of, to court application bankruptcy Qian, should to silver prison will application and get approved: (a) cannot settlement due debt, and assets insufficient to settlement all debt or obviously lack settlement capacity of, voluntary or should its creditors requirements application bankruptcy of; (ii) has dissolved but not liquidation or not liquidation finished, law has liquidation responsibility of people found the institutions assets insufficient to settlement debt, should application bankruptcy of. 143th financial asset management companies to be bankrupt, submit an application to the regulator, by the CBRC, examine and decide.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Other non-bank financial institutions to be bankrupt, submit an application to the local banking regulatory Bureau, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Section outside of subsidiary to terminate the 144th financial asset management companies wholly-owned subsidiary or holding financial institutions, financial leasing companies specializing in subsidiaries, foreign subsidiary dissolution or bankruptcy of the condition of the financial company, light of the 140th and regulations of the 142th article. 145th outside financial asset management companies wholly-owned subsidiary or holding financial institutions or the dissolution of the proposed bankruptcy by financial asset management companies to submit applications to the China Banking Regulatory Commission, China Banking Regulatory Commission will receive, review and make decisions.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing. Financial leasing companies specializing in the dissolution of the subsidiary in the territory or to be bankrupt by the financial leasing companies to apply to the CBRC specialized subsidiaries located, receive and initial review of CBRC, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Foreign specialized subsidiaries or the dissolution of the financial leasing company to be bankrupt by financial leasing companies to the local banking regulatory Bureau to apply, receive and initial review of CBRC, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing. Finance company subsidiaries or the dissolution of the proposed bankruptcy, by finance companies to make an application to the local banking regulatory Bureau, receive and initial review of CBRC, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receipt of the complete application materials to approve or disapprove the decision in writing.

Section III branch and representative office terminates the 146th non-bank financial institutions branches, representative offices and overseas representative office terminates its business operations of non-bank financial institutions or close (was cancelled), termination should be open or close the application.

147th of non-bank financial institution branch office, representative office terminates its business operations or closed, subject to the following conditions: (a) the company's constitutional right to determine body decided the branch terminates its business operations or closed; (b) branches of the operational and staffing arrangements had been made to properly dispose of according to law, and (iii) other prudent requirements as prescribed by the regulations of the CBRC. 148th of non-bank financial institutions branches or representative offices termination of open or closed, by its legal institutions to branch or representative office, the CBRC or banking regulatory Bureau, where to apply, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

CBRC accepted or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC. 149th overseas representative office off of non-bank financial institutions, represented by its parent company to submit applications to the CBRC at the seat, accepted by the CBRC and preliminary examination, the China Banking Regulatory Commission review and decision.

Since the CBRC within 3 months from the date of receiving the complete application documents to approve or disapprove the decision in writing.

Fifth chapter adjustment business range and increased business varieties first section financial company by approved issued bonds, five items business qualification 150th article financial company application by approved issued bonds business qualification, and underwriting members units of enterprise bonds, and securities investment, and on financial institutions of equity investment, and members units products of consumption credit, and buyer credit and financing rental business, should has following conditions: (a) financial company opened 1 years above, and business status good;

(Ii) registered capital not below 300 million Yuan Yuan or equivalent of can free exchange currency; (three) meet carefully regulatory index requirements; (four) has compared perfect of business decision mechanism, and risk control system, and business operation; (five) has and business business phase adapted of security and collection rules of information system, has guarantees business continued operation of technology and measures; (six) has corresponding of qualified professionals; (seven) regulatory rating good; (eight) silver prison will regulations provides of other carefully sex conditions. 151th article financial company application opened securities investment business, except meet 150th article provides outside, also should has following conditions: (a) application fixed returns class securities investment business of, recently 1 years monthly store peer balance not below 500 million Yuan; application stock investment yiwai of securities investment business of, recently 1 years funds concentrated degrees reached and continued keep in 30% above, and recently 1 years monthly store peer balance not below 1 billion yuan; application stock investment business of,

Last 1 year funding concentration reached and sustained above 30%, average monthly balances due from banks and last 1 year no less than 3 billion yuan, (ii) is responsible for the investment of more than two-thirds employees have appropriate professional qualifications or a certain number of years of experience.

152th article financial company application opened on financial institutions of equity investment business, except meet 150th article provides outside, also should has following conditions one of: (a) recently 1 years funds concentrated degrees reached and continued keep in 50% above, and recently 1 years monthly store peer balance not below 5 billion yuan; (ii) recently 1 years funds concentrated degrees reached and continued keep in 30% above, and recently 1 years monthly store peer balance not below 8 billion yuan.

153th consumption per unit of product on the finance companies ' applications for operating credit, buyer credit and leasing business, except as provided in section 150th, but should also be subject to the following conditions: (a) not less than 500 million yuan of registered capital or its equivalent in a freely convertible currency, (ii) group there should be suitable for running such business products; (c) the existing credit risk management is in good shape. 154th finance company for more than five business qualifications, with the CBRC or local banking regulatory Bureau submitted the application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or within 3 months from the date of receipt of the complete application materials approved or not approved by a written decision, and reported to the CBRC. Section II financial company issue financial bonds
155th article financial company application issued financial bonds, should has following conditions: (a) has good of company governance structure, and perfect of internal control system; (ii) has engaged in financial bonds issued of qualified professionals; (three) meet carefully regulatory index requirements; (four) registered capital not below 500 million Yuan Yuan; (five) recently 1 years bad assets rate below industry average level, assets loss prepared dial prepared sufficient; (six) no due cannot paid debt;

(Seven) recently 1 years net worth not below industry average level; (eight) business status good, recently 3 years continuous profit, 3 years average can distribution profit enough to paid by issued financial bonds 1 years of interest, application Qian 1 years margins not below industry average level, and has stable of profit expected; (nine) has issued, and yet honour of financial bonds total shall not over company net worth total of 100%; (ten) recently 3 years no major illegal violations records; (11) regulatory rating good;

(12) other prudent requirements as prescribed by the regulations of the CBRC.

Finance company issuance of financial bonds by the group parent company or other secured members to provide security.

156th finance company to apply for permission to issue financial bonds procedures these procedures apply to the 154th of the rules.

Third section financial company opened exchange business 157th article financial company application opened exchange business, should has following conditions: (a) law collection rules business, internal control system sound effective, business status good; (ii) has sound of exchange business operation and risk management system; (three) has and exchange business business phase adapted of security and collection rules of information system, has guarantees business continued operation of technology and measures; (four) has and opened exchange business phase adapted of qualified exchange business practitioners;

(E) good supervisory ratings; (vi) other prudent requirements as prescribed by the regulations of the CBRC.

158th finance company to apply for foreign exchange business licensing procedures these procedures apply to the 154th of the rules.

Fourth section financial rental company in territory bonded area established project company carried out financing rental business 159th article financial rental company in territory bonded area established project company carried out financing rental business, should has following conditions: (a) meet carefully regulatory index requirements; (ii) mention foot the loss reserves Hou recently 1 a fiscal year final net worth not below 1 billion Yuan Yuan; (three) has good of company governance and internal control system;

(Four) has and business business phase adapted of security and collection rules of information system, has guarantees business continued operation of technology and measures; (five) has opened business by need of has related experience of professionals; (six) developed has opened business by needed of business operation process, and risk management, and internal control and accounting system, and by Board approved; (seven) recently 3 years within no major illegal violations business records; (eight) regulatory rating good; (nine) silver prison will regulations provides of other carefully sex conditions.

160th in bonded areas in financial leasing companies in the establishment of the project company to carry out financial leasing business licensing procedures these procedures apply to the 154th of the rules.

Fifth section financial assets management company, and financial rental company, and car financial company, and consumption financial company issued financial bonds 161th article financial assets management company, and financial rental company, and car financial company, and consumption financial company issued financial bonds, should has following conditions: (a) has good of company governance mechanism, and perfect of internal control system and sound of risk management system; (ii) capital sufficient rate not below regulatory sector of minimum requirements; (three) recently 3 years continuous profit;

(D) the risk supervision indicators comply with the prudential requirements; (e) the last 3 years without serious violations, breaches and (f) good supervisory ratings; (VII) other prudent requirements as prescribed by the regulations of the CBRC.

Qualification for good but to set up financial leasing companies under 3 years of age may be made by the guarantee the guarantor of security. The 162th financial bonds issued by financial asset management companies, submit an application to the regulator, by the CBRC, examine and decide.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing.

Financial leasing companies, auto finance companies, consumer finance companies to issue financial bonds 154th of the rules the licensing procedures applicable to these measures.

Sixth section non-bank financial institutions assets securities of business qualification 163th article non-bank financial institutions application assets securities of business qualification, should has following conditions: (a) has good of social reputation and business performance, recently 3 years within no major illegal, and violations behavior; (ii) has good of company governance, and risk management system and internal control; (three) on opened assets securities of business has reasonable of target positioning and clear of strategy planning, and meet its general business target and development strategy;

(D) is required to engage in the asset-backed securitization business professionals, business processing systems, accounting systems, management information systems, risk management and internal control system, (v) regulatory rating well; (vi) other prudent requirements as prescribed by the regulations of the CBRC. Asset securitization in financial asset management company of the 164th article qualification, submit an application to the regulator, by the CBRC, examine and decide.

CBRC within 3 months from the date of the acceptance to approve or disapprove the decision in writing.

Other non-bank financial institutions eligibility criteria for asset-backed securitization of licensing procedures these procedures apply to the 154th of the rules.

Seventh section derivatives of non-bank financial institutions eligible to 165th derivatives trading business qualifications are divided into non-bank financial institutions basic qualification and general qualifications.

Basic qualifications can only be engaged in hedging derivatives; general qualification in addition to the base class qualification may engage in derivative transactions can also engage in non-hedging derivatives trading. 166th article non-bank financial institutions application based class derivative products trading business qualification, should has following conditions: (a) has sound of derivative products trading risk management system and internal control system; (ii) has accept related derivative products trading skills specifically training half above, and engaged in derivative products or related trading 2 years above of trading personnel at least 2 name, related risk management personnel at least 1 name, risk model research or risk analysis personnel at least 1 name,

Familiar sets period accounting operation program and system specification of personnel at least 1 name, above personnel are needed designed gang hand, mutual shall not who, and no bad records; (three) has appropriate of trading places and equipment; (four) has processing legal Affairs and is responsible for internal control collection rules check of professional sector and the related professionals; (five) meet carefully regulatory index requirements; (six) regulatory rating good; (seven) silver prison will regulations provides of other carefully sex conditions. 167th article non-bank financial institutions application general class derivative products trading business qualification, except meet 166th article provides outside, also should has following conditions: (a) perfect of derivative products trading Qian in the background automatically joins of business processing system and real-time risk management system; (ii) derivative products trading business competent personnel should has 5 years above directly participation derivative products trading activities or risk management of qualifications, and no bad records; (three) strictly of business separation system,

Ensure that the business of hedging and non-hedging business marketing information, risk management, effective separation of profit and loss accounting (iv) improvement of credit risk, market risk, operational risk, risk management framework, (v) other prudent requirements as prescribed by the regulations of the CBRC.

168th of non-bank financial institutions eligibility criteria for derivatives trading business licensing procedures apply provisions of 164th. Eighth section non-bank financial institutions opened other new business 169th article non-bank financial institutions application opened other new business, should has following basic conditions: (a) has good of company governance and internal control; (ii) business status good, main risk regulatory index meet requirements; (three) has effective recognition and control new business risk of management system and sound of new business operation; (four) has and business business phase adapted of security and collection rules of information system, has guarantees business continued operation of technology and measures

And (e) eligibility requirements for new operations management and operational personnel (vi) within the last 3 years no major violation records; (VII) good supervisory ratings and (VIII) other prudent requirements as prescribed by the regulations of the CBRC.

Other new business referred to in the preceding paragraph, refers to the first section of this chapter to the seventh section has clearly stipulated in the existing laws and regulations other than the business could offer, but non-bank financial institutions have not yet started business.

170th of non-bank financial institutions opening new business licensing procedures apply provisions of 164th.

171th of non-bank financial institutions to apply for start-up business specified in the existing legislation is not, by the CBRC separately.

The sixth chapter directors and senior management of qualifications of the personnel licensing section of job qualifications 172th non-bank financial institutions, Chairman, Vice Chairman, independent Director and other members of the Board of Directors is subject to the qualification license. Non-bank financial institutions of General Manager (CEO, and President), and Deputy General Manager (Deputy President), and risk Director (Chief Risk Officer), and financial Director (Chief Financial Officer), and Chief Accountant, and total Audit Division (total audit), and operation Director (Chief operation officer), and information Director (Chief Information Officer), and company internal according to senior management personnel management of General Manager Assistant (President Assistant) and Board Secretary, financial assets management company financial sector, and within trial sector head, branch General Manager (Director), and

Deputy General Manager (Deputy Director), Assistant to the General Manager, finance companies, financial leasing companies, monetary brokerage Branch Manager (Director), Chief Representative of Representative Office of foreign non-bank financial institutions and other senior management personnel, subject to the qualification license. From employment outside the territory of financial asset management companies wholly-owned subsidiary or holding financial institution Chairman, Vice Chairman, General Manager and Deputy General Manager, financial subsidiaries of the company Chairman, Vice Chairman, General Manager and Deputy General Manager, financial leasing of specialized subsidiaries of the company Chairman, Vice Chairman, General Manager and Deputy General Manager, subject to the qualification license.
Not in these positions, but three paragraphs before the actual directors and responsibilities of senior management staff, should be according to the relevant provisions of the Banking Regulatory Commission into the vocational qualification management.

173th article application non-bank financial institutions Director and senior management personnel served qualification, intends any people should has following basic conditions: (a) has completely civil capacity; (ii) has good of law-abiding collection rules records; (three) has good of conduct, and reputation; (four) has served as intends any positions by needed of related knowledge, and experience and the capacity; (five) has good of economic, and financial practitioners records; (six) personal and the family financial sound; (seven) has served as intends any positions by needed of independence;

(H) to fulfil the faithfulness and diligence of financial institutions.

174th article intends any people has following case one of of, considered not meet this approach 173th article subsection (ii) items, and subsection (three) items, and subsection (five) items provides of conditions, shall not served as non-bank financial institutions Director and senior management personnel: (a) has deliberately or major fault crime records of; (ii) has violation social morality of bad behavior, caused bad effect of; (three) on had served institutions illegal violations business activities or major loss has personal responsibility or directly led responsibility, plot serious of;

(Four) served as or had any was took over, and revoked, and declared bankruptcy or revoked license of institutions of Director or senior management personnel of, but can proved I on had served institutions was took over, and revoked, and declared bankruptcy or revoked license not has personal responsibility of except; (five) for violation ethics, and conduct or work serious dereliction of, caused major loss or bad effect of; (six) directed, and participation by served institutions not tie law regulatory or case investigation of;

(G) the qualifications of Directors and senior managers of the Cancel lifelong, or by regulators or other penalties total more than 2 times the financial management Department; (VIII) does not have the qualifications as provided herein, improper means to obtain the qualification approval. 175th article intends any people has following case one of of, considered not meet this approach 173th article subsection (six) items, and subsection (seven) items provides of conditions, shall not served as non-bank financial institutions Director and senior management personnel: (a) as application served qualification Shi, I or its spouse still has amounts larger of late debt failed to reimbursement, including but not limited to in the financial institutions of late loan; (ii) I and near relatives merged holds the financial institutions 5% above shares, And from the financial institutions get of award letter total obviously over its holding some the financial institutions equity net; (three) I and by holding of shareholders units merged holds the financial institutions 5% above shares, and from the financial institutions get of award letter total obviously over its holding some the financial institutions equity net; (four) I or its spouse in holds the financial institutions 5% above shares of shareholders units served, and the shareholders units from the financial institutions get of award letter total obviously over its holding some the financial institutions equity net,

But to prove that credit has no connection with their spouses except for (v) there are other positions in the financial institution to be appointed, current functions have obvious conflicts of interest, or clearly separated in the financial institutions duty time and energy.

The preceding paragraph (d) shall not apply for financial company directors and senior managers.

176th article application non-bank financial institutions Director served qualification, intends any people except should meet 173th article to 175th article of provides outside, also should has following conditions: (a) has 5 years above of economic, and financial, and legal, and accounting or other conducive to perform Director duties of work experience, which intends served as independent Director of also should is economic, and financial, and legal, and accounting, aspects of experts;

(B) use of non-bank financial institutions financial statements and statistical reports to judge management and risk profile of the non-bank financial institutions; (c) understand the proposed non-bank financial institutions, corporate governance, corporate Charter and Board responsibilities, and familiar with the rights and obligations of the directors.

177th article intends any people has following case one of of, shall not served as non-bank financial institutions independent Director: (a) I and near relatives merged holds the non-bank financial institutions 1% above shares or equity; (ii) I or its near relatives in holds the non-bank financial institutions 1% above shares or equity of shareholders units served; (three) I or its near relatives in the non-bank financial institutions, and the non-bank financial institutions holding or actual control of institutions served; (Four) I or its near relatives in cannot regular reimbursement the non-bank financial institutions loan of institutions served; (five) I or its near relatives served of institutions and I intends served non-bank financial institutions Zhijian exists legal, and accounting, and audit, and management advisory, and guarantees cooperation, aspects of business contact or claims debt, aspects of interests relationship, that Yu hamper its shoe vocational independence of case; (six) I or its near relatives may was intends served non-bank financial institutions big shareholders, and executives layer control or imposed major effect,

Other circumstances that interfere with their duty of independence.

(VII) I have been in the same type of non-bank financial institutions. 178th article application non-bank financial institutions Chairman, and Deputy Chairman served qualification, intends any people except should meet 173th article to 176th article of provides outside, also should respectively has following conditions: (a) served as financial assets management company Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 8 years above, or related economic work 12 years above (which engaged in financial work 5 years above); (ii) served as financial company Chairman, and Deputy Chairman, should has undergraduate above degree, Engaged in financial work 5 years above, or engaged in group financial or funds management work 8 years above, or engaged in Group core main and the related management work 10 years above; (three) served as financial rental company Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work or financing rental work 5 years above, or engaged in related economic work 10 years above; (four) served as car financial company Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 5 years above,

Or engaged in car production sales management work 10 years above; (five) served as currency brokers company Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 5 years above, or engaged in related economic work 10 years above (which engaged in financial work 3 years above); (six) served as consumption financial company Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 5 years above, or engaged in related economic work 10 years above; (Seven) served as financial assets management company outside full funding subsidiary or holding financial institutions Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 6 years above, or engaged in related economic work 10 years above (which engaged in financial work 3 years above), and can more skilled to using 1 door and by any positions phase adapted of language; (eight) served as financial company outside subsidiary Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work 3 years above, Or engaged in group financial or funds management work 6 years above, and can more skilled to using 1 door and by any positions phase adapted of language; (nine) served as financial rental company both inside and outside professional subsidiary Chairman, and Deputy Chairman, should has undergraduate above degree, engaged in financial work or financing rental work 3 years above, or engaged in related economic work 8 years above (which engaged in financial work or financing rental work 2 years above), served as outside subsidiary Chairman, and Deputy Chairman of,

Should make good use of 1 foreign language commensurate with their posts.

179th article application non-bank financial institutions corporate institutions senior management personnel served qualification, intends any people except should meet 173th article to 175th article of provides outside, also should respectively has following conditions: (a) served as financial assets management company General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in financial work 8 years above or related economic work 12 years above (which engaged in financial work 4 years above); (Ii) served as financial company General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in financial work 5 years above, or engaged in financial or funds management work 10 years above (financial company senior management layer in the at least due a people engaged in financial work 5 years above); (three) served as financial rental company General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in financial work or engaged in financing rental work 5 years above, Or engaged in related economic work 10 years above (which engaged in financial work or financing rental work 3 years above); (four) served as car financial company General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in financial work 5 years above, or engaged in car production sales management work 10 years above; (five) served as currency brokers company General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in financial work 5 years above , Or engaged in related economic work 10 years above (which engaged in financial work 3 years above); (six) served as consumption financial company General Manager (CEO, and President), and Deputy General Manager (Deputy President), should has undergraduate above degree, engaged in financial work 5 years above, or engaged in and consumption financial related field work 10 years above (consumption financial company senior management layer in the at least due a people engaged in financial work 5 years above); (seven) served as various non-bank financial institutions financial Director (Chief Financial Officer), and Chief Accountant , And total Audit Division (total audit), and financial assets management company financial sector, and within trial sector head of, should has undergraduate above degree, engaged in financial, and accounting or audit work 6 years above; (eight) served as various non-bank financial institutions risk Director (Chief Risk Officer), should has undergraduate above degree, engaged in financial institutions risk management work 3 years above, or engaged in other financial work 6 years above; (nine) served as various non-bank financial institutions information Director (Chief Information Officer), should has undergraduate above degree, Working in information technology for 6 years; (j) non-bank financial institutions, Director of operations (COO) and senior managers within the company's Assistant General Manager (Assistant to the President), Secretary of the Board as well as the actual discharge the responsibilities of senior management personnel, job qualifications, mutatis mutandis, similar institution Vice President (VP) qualifications of the Executive.
180th article application non-bank financial institutions subsidiary or branch senior management personnel served qualification, intends any people except should meet 173th article to 175th article of provides outside, also should respectively has following conditions: (a) served as financial assets management company outside full funding subsidiary or holding financial institutions General Manager, and Vice President Manager or served as financial assets management company branch General Manager (Director), and Deputy General Manager (Deputy Director), and General Manager Assistant, should has undergraduate above degree, Engaged in financial work 6 years above or related economic work 10 years above (which engaged in financial work 3 years above), served as outside full funding subsidiary or holding financial institutions General Manager, and Deputy General Manager of, should can more skilled to using 1 door and by any positions phase adapted of language; (ii) served as financial company outside subsidiary General Manager, and Vice President Manager or served as financial company branch General Manager (Director), should has undergraduate above degree, engaged in financial work 5 years above, Or engaged in financial or funds management work 8 years above (which engaged in financial work 2 years above), served as outside subsidiary General Manager or Deputy General Manager of, should can more skilled to using 1 door and by any positions phase adapted of language; (three) served as financial rental company both inside and outside professional subsidiary General Manager, and Vice President Manager or served as financial rental company branch General Manager (Director), should has undergraduate above degree, engaged in financial work or financing rental work 3 years above,

Or engaged in related economic work 8 years above (which engaged in financial work or financing rental work 2 years above), served as outside subsidiary General Manager, and Deputy General Manager of, should can more skilled to using 1 door and by any positions phase adapted of language; (four) served as currency brokers company branch General Manager (Director), should has undergraduate above degree, engaged in financial work 5 years above, or engaged in related economic work 8 years above (which engaged in financial work 2 years above);

(E) as the Chief Representative of Representative Office of foreign non-bank financial institutions, should have Bachelor, engaged in financial or economic work for more than 3 years.

181th article intends any people not reached 178th article to 180th article provides of degree requirements, but has following conditions one of of, depending on with reached provides of degree: (a) made national education administrative competent sector recognized College grant of Bachelor above degree; (ii) made registered accountants, and registered Audit Division or and intends (now) any positions related of senior professional technology positions qualification, and related practitioners years over corresponding provides 4 years above. 182th Chairman and General Manager of qualifications to be appointed without the prior approval of, non-bank financial institutions should be specified in accordance with the appropriate job qualifications, duties on behalf of the person, and from the specified date of the decision reported to regulators in the 3rd. Duties on his behalf does not meet the qualifications of the personnel, regulators can order the period adjustment of non-bank financial institutions.

Non-banking financial institutions shall, within 6 months of employing personnel with qualifications officially. Section II qualifications for licensing procedures the 183th financial asset management outside the company and its wholly-owned subsidiary or holding financial institution applies for approval of qualifications of Directors and senior management, by financial asset management companies to submit applications to the China Banking Regulatory Commission, China Banking Regulatory Commission will receive, review and make decisions.

Within 30th since the date of acceptance of the CBRC approved or not approved a written decision. Other non-bank financial institutions, corporate bodies for approval of Directors and senior management personnel qualifications, with the CBRC or local banking regulatory Bureau submitted the application, accepted by the CBRC or banking regulatory Bureau and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or from the date of receipt of complete application materials within 30th approve or not to approve a written decision, and reported to the CBRC. Finance company subsidiaries overseas, application for approval of qualifications of Directors and senior management, from a finance company to the CBRC or banking regulatory Bureau, where to apply, the CBRC or the banking Board to accept and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or from the date of receipt of complete application materials within 30th approve or not to approve a written decision, and reported to the CBRC. Financial rental company territory professional subsidiary application approved Director and senior management personnel served qualification, by professional subsidiary to silver prison branch or location silver prison Council submitted application, financial rental company outside professional subsidiary application approved Director and senior management personnel served qualification, by financial rental company to silver prison branch or location silver prison Council submitted application, silver prison branch or silver prison Council accepted and preliminary review, and silver prison Council review and decided.

Banking regulatory Bureau of the acceptance date or from the date of receipt of complete application materials within 30th approve or not to approve a written decision, and reported to the CBRC. Non-bank financial institution branch for approval of qualifications for senior managers, by their legal institutions to branch the CBRC or banking regulatory Bureau, where to apply, the CBRC or the banking Board to accept and preliminary examination, banking regulatory Bureau review and decision.

Banking regulatory Bureau of the acceptance date or from the date of receipt of complete application materials within 30th approve or not to approve a written decision, and reported to the CBRC, copy to the location of the non-bank financial institutions, corporate bodies of CBRC. Representative Ofice of non-bank financial institutions outside the qualification approval, submit an application to the local banking regulatory Bureau, accepted by the banking regulatory Bureau, review and decision.

Banking Board from the date of acceptance in the 30th to approve or not to approve a written decision, and reported to the CBRC.

184th non-bank financial institutions or their affiliates was established, the qualifications of Directors and senior management applications, opening in accordance with the Agency's licensing procedures, examine and decide together. 185th Executive qualifications and did not break serve for 1 year in a row over the person to be appointed within the same legal entity, parallel duties or became a low duty of a similar nature, do not need to reapply for approval of qualifications.

People should to be appointed after the 5th report to the location of the working bodies of the CBRC. Seventh chapter supplementary articles article 186th permission to institutional changes approved, non-bank financial institutions and their branches shall be completed within 6 months from the date of the decision on statutory change, and to determine location of the organs and bodies of the CBRC report.

The availability of approved qualifications of Directors and senior management, to be appointed who shall within 3 months from the date of the decision formally to any, and to determine location of the organs and bodies of the CBRC report.

Is not completed within the time limit prescribed in the preceding paragraph changes or any of, the licensing file failure, up to cancellation of administrative licensing.

187th non-bank financial institutions, ending matters, involving amendment of registration of industry and commerce, taxation, and legal procedures, shall within 1 month after completion of the statutory procedures the CBRC report and the local bodies of the CBRC.

188th herein alleged overseas including Hong Kong, Macao and Taiwan regions.

189th in this way, the "day" to working, "above" all contain the number or level.

190th unless otherwise indicated, in this way the financial requirements for consolidated accounting statement basis.

191th other non-bank financial institutions rule separately.

192th explain these measures by the CBRC. 193th these measures come into force on the date of promulgation, the China Banking Regulatory Commission on measures for the implementation of administrative licensing matters concerning non-bank financial institutions (China Banking Regulatory Commission, 2007 13th) repealed simultaneously. These measures prior to the implementation of the relevant provisions is inconsistent with this approach, in accordance with these rules.