What company has a financial license?

The financial license is applicable to financial institutions supervised by the CBRC and approved to engage in financial business. Financial institutions include policy banks, commercial banks, rural cooperative banks, urban credit cooperatives, rural credit cooperatives, rural banks, loan companies, rural mutual funds cooperatives, financial asset management companies, trust companies, enterprise group finance companies, financial leasing companies, auto finance companies, currency brokerage companies, etc.

The CBRC implements the management principle of grading authorization, proper separation of agency approval authority and license issuance authority for financial licenses.

legal ground

Measures for the Administration of Financial Asset Investment Companies Article 16 A financial asset investment company shall go through the industrial and commercial registration and obtain a business license after receiving the approval documents for starting business and obtaining a financial license.

A financial asset investment company shall start business within 6 months from the date of obtaining the business license. If it is unable to start business on schedule, it shall submit a business extension report to the the State Council Banking Regulatory Authority 1 month before the expiration of the business opening period. The extension of business opening shall not exceed once, and the extension period shall not exceed 3 months.

If the company fails to start business within the time limit specified in the preceding paragraph, the approval document for business start will become invalid, the decision-making organ will cancel the business start license, and the issuing organ will withdraw the financial license and make an announcement.

"Regulations on the Administration of Foreign Banks in People's Republic of China (PRC)" Article 19 A business institution of a foreign bank established upon approval shall register with the market supervision and administration department with a financial license and obtain a business license.