The Shanghai Securities News says the China Banking and Regulatory Commission (CBRC) intends to raise the minimum capital requirement for new banks to 1 billion yuan (US$163.37mil) from the current 300 million yuan.
SHANGHAI: China's banking regulator plans to more than triple the minimum registered capital requirement for new wholly-owned foreign banks and joint-venture banks, a state-owned newspaper reported on Wednesday.
The Shanghai Securities News said that the China Banking and Regulatory Commission (CBRC), in a bid to boost risk management, intends to raise the minimum capital requirement for new ventures to 1 billion yuan (US$163.37mil) from the current 300 million yuan.
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