Money and Banking: Banking Laws

Commercial Bank Law of the People's Republic of China 
(中华人民共和国商业银行法)

Date Enacted: 1995 (amended in 2015)

Individuals and Organizations Regulated: Commercial banks and other financial institutions

Activities Regulated: Licensing, supervision, and regulation of commercial banks and other financial institutions, including capital requirements, risk management, and consumer protection

Purpose of the Law: To promote the stability and efficiency of China's financial system, and to protect the interests of bank depositors and other consumers of financial services

Securities Law of the People's Republic of China 
(中华人民共和国证券法)

Date Enacted: 1999 (amended in 2019)

Individuals and Organizations Regulated: Securities market participants, including securities companies, securities investment fund management companies, and listed companies

Activities Regulated: Licensing, supervision, and regulation of securities market participants, including disclosure requirements, insider trading rules, and market manipulation regulations

Purpose of the Law: To promote transparency and efficiency in China's securities markets, and to protect the interests of investors

Insurance Law of the People's Republic of China 
(中华人民共和国保险法)

Date Enacted: 1995 (amended in 2015)

Individuals and Organizations Regulated: Insurance companies and other entities engaged in insurance activities

Activities Regulated: Licensing, supervision, and regulation of insurance companies and other entities engaged in insurance activities, including capital requirements, solvency ratios, risk management, and consumer protection

Purpose of the Law: To establish a legal framework for insurance activities in China, and to promote the development of a sound and efficient insurance market in the country.

People's Bank of China Law 
(中华人民共和国人民银行法)

Date Enacted: 2003 (amended in 2018)

Individuals and Organizations Regulated: People's Bank of China, the central bank of China

Activities Regulated: Management of monetary policy, issuance of currency, regulation of the payment system, and oversight of the financial system

Purpose of the Law: To establish the legal framework for the operation and management of the People's Bank of China, and to ensure the stability and efficiency of the country's monetary system

Anti-Money Laundering Law of the People's Republic of China 
(中华人民共和国反洗钱法)

Date Enacted: 2007 (amended in 2020)

Individuals and Organizations Regulated: Financial institutions and other businesses subject to anti-money laundering requirements

Activities Regulated: Prevention, detection, and reporting of money laundering activities, including customer due diligence, record-keeping, and reporting requirements

Purpose of the Law: To establish measures to combat money laundering in China, and to bring the country in line with international standards and best practices

Cybersecurity Law of the People's Republic of China 
(中华人民共和国网络安全法)

Date Enacted: 2016 (amended in 2018)

Individuals and Organizations Regulated: Companies and individuals engaged in internet and information technology services

Activities Regulated: Protection of cybersecurity, including data privacy, network security, and the management of critical information infrastructure

Purpose of the Law: To establish a legal framework for cybersecurity in China, and to ensure the security of the country's internet and information technology infrastructure.

Foreign Exchange Administration Law of the People's Republic of China 
(中华人民共和国外汇管理法)

Date Enacted: 1996 (amended in 2015)

Individuals and Organizations Regulated: Individuals and entities involved in foreign exchange transactions, including banks, companies, and individuals

Activities Regulated: Management and regulation of China's foreign exchange reserves, foreign exchange transactions, and foreign exchange settlement and clearing

Purpose of the Law: To establish a legal framework for the administration of China's foreign exchange reserves, and to promote the stability and efficiency of the country's foreign exchange market

Internet Finance Industry Risk Special Rectification Work Plan 
(互联网金融风险专项整治工作方案)

Date Enacted: 2016

Individuals and Organizations Regulated: Companies and individuals engaged in internet finance activities

Activities Regulated: Risk management and oversight of internet finance activities, including peer-to-peer lending, online payment systems, and crowdfunding platforms

Purpose of the Law: To address the risks associated with internet finance activities in China, and to promote the healthy development of the country's internet finance industry

Regulations on Administration of Online Payment Services 
(网络支付业务管理办法)

Date Enacted: 2010 (amended in 2015)

Individuals and Organizations Regulated: Companies and individuals engaged in online payment services

Activities Regulated: Licensing, supervision, and regulation of online payment services, including transaction processing, settlement, and customer protection

Purpose of the Law: To establish a legal framework for the administration of online payment services in China, and to promote the development of a safe and efficient online payment system

Consumer Rights Protection Law of the People's Republic of China 
(中华人民共和国消费者权益保护法)

Date Enacted: 1993 (amended in 2013)

Individuals and Organizations Regulated: Companies and individuals engaged in consumer transactions

Activities Regulated: Protection of consumer rights, including the right to information, the right to choose, the right to safety, and the right to fair treatment

Purpose of the Law: To establish a legal framework for the protection of consumer rights in China, and to promote the development of a fair and efficient consumer market.

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