What laws apply to the operation of banks and financial institutions in China?

Banking and financial institutions operating in China would need to abide by certain laws and regulations. These laws are known collectively as the China Business Ventures Law. The law was enacted to regulate and protect the banking and financial services within the Chinese market. The law applies to both domestic and international banking and financial institutions. This includes banks granted a license to operate in China, non-bank financial institutions, and any foreign companies operating inside China. The law states that only certain products and services are allowed to be provided by the banks and financial institutions to its clients. It also states that the financial institutions must comply with certain standards when it comes to client-protection and product-quality. Banks and financial institutions must also comply with any additional rules and regulations established by the Banking Regulatory Commission and State Council of China. This includes the standardization of banking products, protection of customer rights, and access to financial services. The aim of this law is to ensure that the public are protected from deceptive or harmful practices of the banking and financial institutions. It also aims to guarantee the safety of the banking system by setting up certain standards and guaranteeing the reliability of the services offered.

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What laws apply to the operation of banks and financial institutions in China?

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