Lobby Letter Submitted to the People's Bank of China (PBoC) on the Draft Regulation on Local Financial Supervision and Administration of Local Financial Organisations

2022-01-21 | Beijing, Shanghai

On 21st January, the European Chamber’s Banking & Securities working group and Non-Banking Financial Institutions (NBFI) working group sent a joint letter to the People's Bank of China (PBoC) International Cooperation Department to raise their concerns on 

-          Foreign banks’ eligibility for applying the carbon emissions reduction framework facility and how European banks could further contribute to the development of green and sustainable finance in China;

-          Potential solutions for European banks’ renewal access to Shanghai Clearing House;

-          The impacts of the new Macro Prudential Policy on foreign banks’ Cross Border Financing;

-          The necessity to find a way to grant broader balance sheet growth.

The letter is a follow up to the meeting held between Banking & Securities working group representatives and People’s Bank of China officials on 14th January. A lobby letter with comments on PBOC’s draft regulation on local financial supervision and administration of local financial organisations by the NBFI working group was attached to the thank you letter.