Administrative Provisions on Foreign Organizations Providing Financial Information Services in China entered into force on 1 June 2009.
There are 25 articles in total. The Provisions aim to regulate the activities where foreign organizations provide financial information services within the territory of China. Financial information services refer to the services that provide information and/or financial statistics which may affect the financial markets to users engaging in financial markets. Key points of the Provisions include:
- The State Council Information Office is the regulatory authority in the area.
- Foreign organizations providing financial information services within the territory of China shall be subject to approval by the regulatory authority.
- Where foreign organizations proposing to invest and establish a financial information service enterprise within the territory of China, they shall be subject to the approval of the commerce authority of the State Council (Ministry of Commerce).
- The financial information that foreign organizations provide to users within the territory of China shall not contain illegal content.