The China Banking and Insurance Regulatory Commission ("CBIRC") has recently issued the Provisions on the Implementing Procedures for Administrative Licensing (the "Provisions") which shall go into effect from July 1, 2020.
The Provisions contain the following new provisions regarding the implementing procedures for administrative licensing. First, the procedures for suspension of examination and for resumption of examination are added. Where the applicant or the party directly related to the corresponding administrative licensing matter is involved in a pending case where it is under investigation by the administrative organ or by the judicial organ, on suspicion of committing acts in breach of laws or regulations, and the case has a huge impact on such administrative licensing matter, or under some other circumstances, the authority in charge of accepting applications or empowered to grant approval may suspend the examination, and may resume the examination process when conditions are met. Second, the Provisions clarify the applicants' and stakeholders' right to hearing and the hearing procedures, which ensures the integrity of the administrative licensing procedures and the comprehensive guarantee of applicants' and stakeholders' rights. In addition, according to the Provisions, "electronic transmission" is added as a new method to the existing document transmission methods for procedures under which applicants submit application documents to the authority in charge of accepting applications, relevant documents are served on applicants, and applicants submit written explanations.