（No. 49 [2007] of China Banking Regulatory Commission）

All branches of China Banking Regulatory Commission,

　　For the purposes of regulating the administration of bank card business of solely foreign-funded banks and Sino-foreign equity joint banks and preventing the risks of bank card business, in pursuance of the Regulation of the People's Republic of China on the Administration of Foreign-funded Banks, the Detailed Rules on the Implementation of Regulation of the People's Republic of China on the Administration of Foreign-funded Banks and Administrative Measures for the Bank Card Business, you're hereby notified of the following issues concerning solely foreign-funded banks and Sino-foreign equity joint banks to engage in the bank card business:

　　I. Solely foreign-funded banks and Sino-foreign equity joint banks may apply for engaging in the bank card business as of the day when this Notice is printed and distributed.

　　II. The term "bank cards" as mentioned in this Notice is classified into RMB cards and foreign currency cards according to different currencies, including debit cards, quasi-credit cards and credit cards.

　　Quasi-credit cards and credit cards are referred to in general as credit cards.

　　III. Upon approval of China Banking Regulatory Commission （hereinafter referred to as the CBRC）, solely foreign-funded banks and Sino-foreign equity joint banks may engage in the bank card business within the scope of its clients. An applicant shall meet the following requirements:

　　（1）Its capital adequacy ratio, asset quality and other main supervisory indicators conform to the relevant provisions of the CBRC;

　　（2）It has management rules and risk management measures commensurate with its needs of engagement in bank card business;

　　（3）It has set up within China a computer system which conforms to the relevant business and technical standards and has the technical capability to guarantee the safety of the banking information;

　　（4）It has technicians, managerial personnel and corresponding management institutions which can meet the needs of engagement in bank card business; and

　　（5）Other prudent conditions as prescribed by the CBRC.

　　Where a solely foreign-funded bank or Sino-foreign equity joint bank intends to issue foreign currency cards, it shall have the qualifications for engaging in settlement of foreign exchange and sale of foreign currencies upon approval of the foreign exchange administrative department of the State Council.

　　IV. A solely foreign-funded bank or Sino-foreign equity joint bank which intends to issue bank cards shall conform to the bank card business and technical standards set forth by the People's Bank of China and satisfy the general requirements for the network of bank cards.

　　V. A solely foreign-funded bank or Sino-foreign equity joint bank which intends to engage in the bank card business shall apply to the branch of the CBRC of the place where its headquarters is located by analogy to the application materials as prescribed in the Measures for the Administration of Bank Card Business.

　　VI. The branch of the CBRC of the place where the headquarters of the solely foreign-funded bank or Sino-foreign equity joint bank is located shall, within 20 days as of the date of receiving a complete set of application materials, submit the CBRC the application materials together with the examination opinions.

　　The CBRC shall, within 3 months after it receives the compete set of application materials submitted by the solely foreign-funded bank or Sino-foreign equity joint bank to engage in bank card business, make a decision of approval or disapproval. If it makes a decision of disapproval, it shall notify the applicant in writing and make an explanation.

　　VII. After a solely foreign-funded bank or Sino-foreign equity joint bank obtains the approval to engage in the bank card business, if it needs to engage in the business of a new type of bank cards, such as quasi-credit cards or credit cards, it shall apply for approval under this Notice.

　　VIII. After a solely foreign-funded bank or Sino-foreign equity joint bank obtains the approval to engage in the bank card business, it shall report to the local institution dispatched by the CBRC the types of bank cards in which it plans to engage.

　　Where a branch of a solely foreign-funded bank or Sino-foreign equity joint bank intends to engage in the bank card business upon authorization of its headquarters, before it engages in such business, it shall, upon the strength of the pertinent approval documents and the authorization of its headquarters, report to the local institution dispatched by the CBRC the types of bank cards in which it plans to engage.

　　IX. The supervision and administration over the bank card business of solely foreign-funded banks and Sino-foreign equity joint banks shall be governed by the relevant provisions on the administration of bank card business.

　　All relevant branches of the CBRC should transmit this Notice to your sub-branches and the foreign-funded institutions of foreign-funded banks under your respective jurisdiction as soon as possible.

　　China Banking Regulatory Commission
　　June 6, 2007