On 28 December 2017, the China Banking Regulatory Commission ("CBRC") issued the Decision on Amending the Measures of the China Banking Regulatory Commission for Granting Administrative Licensing to Foreign-funded Banks (Draft for Public Comment) (the "Draft Measures") with an aim to further open up the banking industry as mandated by the central government. The Draft Measures reduce the number of administrative licensing items, simplify the administrative licensing procedures, and further unify the market access standards for Chinese- and foreign-funded banks. This newsletter is intended to present a brief outline of the amendments proposed in the Draft Measures that may have a significant impact on foreign-funded banks ("FFBs") in China.