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The FSA Japan and the China Banking Regulatory Commission (CBRC) reached an agreement concerning the establishment of the framework for regulatory cooperation related to the QDII - Qualified Domestic Institutional Investors - system.
This framework enables Chinese commercial banks to conduct wealth management business in
Based on this plan, The FSA held its first periodic meetings with the Chinese supervisory authorities and others in January, with the intention of enhancing bilateral cooperation with authorities in fast growing Asian markets.
It is becoming increasingly important for both Japanese and Chinese regulators to strengthen their relationships with respect to financial services. The establishment of this framework exemplifies concrete progress being made in enhancing bilateral cooperation.
In
Under this system, the overseas wealth management business is conditional on the establishment of a framework for regulatory cooperation between the CBRC and the supervisory authorities in the overseas countries/areas where the investment is made.