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The home country or region of the shareholder of a proposed wholly foreign-funded bank, the foreign shareholder of a proposed Chinese-foreign joint venture bank, or the foreign bank applying for establishing a branch or a representative office shall maintain a sound financial regulatory system, and the financial supervisory authority of such country or region has well established a supervisory co-operation mechanism with the banking regulatory agency of the State Council.

Article 10 The shareholder of a proposed wholly foreign-funded bank shall be a financial institution and satisfy the requirements provided in article 9 of these regulations. In addition, the sole shareholder or the controlling shareholder of a proposed wholly foreign-funded bank shall satisfy the following requirements:

(1) being a commercial bank;

(2) having maintained a representative office within the territory of the People's Republic of China for over two years;

(3) having the total assets of not less than US$10 billion at the end of the year prior to the submission of the application; and

(4) having the capital adequacy ratio that meets the requirements prescribed by the financial supervisory authority of its home country or region and the banking regulatory agency of the State Council.

Article 11 The shareholder of a proposed Chinese-foreign joint venture bank shall satisfy the requirements provided in article 9 of these regulations. In addition, the foreign shareholder and the sole Chinese shareholder or the major Chinese shareholder shall be a financial institution, and the sole foreign shareholder or the major foreign shareholder shall also satisfy the following requirements:

(1) being a commercial bank;

(2) having maintained a representative office within the territory of the People's Republic of China;

(3) having total assets of not less than US$10 billion at the end of the year prior to the submission of the application; and

(4) having a capital adequacy ratio that meets the requirements prescribed by the financial supervisory authority of its home country or region and the banking regulatory agency of the State Council.

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