The China Banking Regulatory Board issued a notice on items that are subject to administrative approval recently. According to the notice, the board has reclassified the current items subject to administrative approval in order to support the enforcement of the Administrative Licensing Law of PRC. Of 59 items subject to administrative approval of the board at present, 51 remain unchanged and 8 items will not longer need administrative approvals. The 8 items include registration of qualification of state-owned commercial banks' vice president, approval of registration business, subscription and redemption of open funds, etc.

Source: People's Daily Online