Legal Analysis: According to the laws of China, the financial license is applicable to financial institutions engaged in financial business approved by the CBRC. Financial institutions include policy banks, commercial banks, rural cooperative banks, urban credit cooperatives, rural credit cooperatives, rural banks, loan companies, rural credit cooperatives, financial asset management companies, trust companies, enterprise group finance companies, financial leasing companies, auto finance companies, money brokerage companies, etc. The CBRC implements the management principle of separation of grading authorization, examination and approval and certification institutions. If China Banking Regulatory Commission and its dispatched offices need to issue or renew financial licenses to financial institutions according to the administrative licensing decision, they shall issue or renew financial licenses to the applicants within 10 days from the date of making the administrative licensing decision.
Legal basis: Article 6 of the Measures for the Administration of Financial Licensing. When obtaining a financial license, a financial institution shall provide the following materials:
(1) The approval document of the CBRC or its dispatched office;
(2) Letter of introduction from the financial institution;
(3) The legal and valid identity certificate of the licensed personnel;
(4) Other materials required by the CBRC or its dispatched offices.