CBIRC Cancelled Administrative License of the Issuance of Non-Capital Bonds

On September 2, 2022, the China Banking and Insurance Regulatory Commission (“CBIRC”) issued the Decision on Amending Several Administrative Licensing Regulations, which will take effect on October 8, 2022. The Decision amends relevant provisions of bank administrative licensing, including optimizing the scope and mechanism of bank bond issuance approval. In terms of the approval items for bank bond issuance, it has the following amendments: (i) the administrative license for the issuance of non-capital bonds shall be canceled, and a report shall be made to the CBIRC or the local provincial office within 10 days after the issuance of non-capital bonds; (ii) the issuance mechanism of capital bonds is clarified.