Legal Basis: Measures for the Implementation of Administrative Licensing Matters of Rural Small and Medium-sized Financial Institutions of China Banking Regulatory Commission Article 1: In order to standardize the administrative licensing activities of the CBRC and its dispatched offices, clarify the administrative licensing matters, conditions, procedures and deadlines, and protect the legitimate rights and interests of applicants, according to the Banking Supervision Law of the People's Republic of China, the People's Republic of China (PRC) Commercial Bank Law and the Banking Supervision Law of the People's Republic of China.