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China mulls allowing foreign multinationals to establish finance companies
Published on: 2022-08-03
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China is mulling allowing foreign multinational groups to establish finance companies in the country in its latest opening-up move.
 

Foreign multinational groups will be able to establish finance companies directly or through foreign-funded investment companies established in China, according to a draft document released by the China Banking and Insurance Regulatory Commission.
 

In the draft, the same market access conditions are applied to foreign-funded finance companies and Chinese counterparts.
 

The document, which is now open to the public for opinions, has made provision updates in fields like market access requirements and business regulation.
 

The financial threshold for setting up a finance company has been raised in line with China's economic status, with higher asset, revenue, profit and paid-in capital requirements for candidate corporate groups, according to the draft document.
 

外资跨国集团可直接设立财务公司

7月29日,银保监会有关部门负责人就《企业集团财务公司管理办法(征求意见稿)》答记者问。该负责人表示,《征求意见稿》修订过程中,参照国家统计局公布的我国经济增长数据,对财务公司的市场准入标准进行了调整:
 

一是对申请设立财务公司的企业集团资产总额要求由50亿元调整至300亿元,营业收入总额要求由40亿元调整至200亿元,税前利润总额要求由2亿元调整至10亿元,实收资本要求由8亿元调整至50亿元等,基本与经济增长水平相符。
 

二是明确企业集团货币资金不低于50亿元、成员单位数量不低于50家的条件,强调企业集团自身的资金归集能力和成员单位的数量规模要求。
 

三是增加非金融企业作为控股股东须连续盈利3年以上、净资产率不低于40%、权益性投资比例不高于40%等条件,强调对控股股东的更严格要求。
 

四是将财务公司注册资本由1亿元调整至10亿元,以增强财务公司抵御风险能力。
 

总体来看,《征求意见稿》对财务公司市场准入标准的调整,体现了严格准入、优中选优的监管导向,引导企业集团理性申请设立财务公司。
 

此外,《征求意见稿》落实对外开放政策要求,明确了外资跨国集团可直接设立财务公司,也可通过其在中国境内设立的外资投资性公司设立财务公司。外资财务公司的准入条件与中资机构一致。

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