WTO Agreement Regarding China's Banking Industry
In the negotiations of China's accession to WTO membership, the Chinese government has agreed to open up the financial industry to foreign financial institutions.
BANKING SECTOR
China agrees to commit to full market access in five years from the accession for foreign banks.
Contents of liberalization		Timing	Restriction
General rights
	Foreign banks will have the same rights (national treatment) as Chinese banks.	at the accession
Geographic and customer restrictions
	None for foreign currency business	at the accession
	Foreign banks will be able to conduct local currency business with non-Chinese enterprises in designated area.	at the accession	- Limited in following 16 cities(Dec.2004). Shenzhen, Dalian, Tianjin, Guangzhou, Zhuhai, Qingdao, Nanjing, Wuhan, Jinan, Fuzhou, Chengdu, Chongqing, Kunming, Beijing and Xiamen
	Foreign banks will be able to conduct local currency business with Chinese enterprises in designated area.	Dec. 11, 2003	- Limited in following 16 cities(Dec.2004). Shenzhen, Dalian, Tianjin, Guangzhou, Zhuhai, Qingdao, Nanjing, Wuhan, Jinan, Fuzhou, Chengdu, Chongqing, Kunming, Beijing and Xiamen
	Foreign banks will be able to conduct local currency business with Chinese individuals.	Dec. 11, 2006
	Both geographic and customer restrictions will be removed in five years.	Dec. 11, 2006
Cross-border supply of services
	The provision and transfer of financial information, financial data processing, and related software by suppliers of other financial services, as well as advisery, intermediation, and other auxiliary financial services are allowed.	at the accession	Other cross-border supply of foreign financial services including motor vehicle financing by non-bank foreign financial institutions are restricted.
	Check U.S DOC's WTO Accession Package for more information.
Source;
	EXPORT.GOV : U.S. Government Export Portal (English)
	Macroeconomic Information Network 中国宏观经济信息网 (English)
	NIKKEI NET Biz Plus (Japanese)