Legal basis: Trial Measures for the Supervision and Administration of Financial Holding Companies in People's Republic of China (PRC) Article 2 The financial holding company mentioned in these Measures refers to a limited liability company or a joint stock limited company that is legally established, controls or actually controls two or more different types of financial institutions, only manages equity investment and does not directly engage in commercial activities. These Measures shall apply to financial holding companies whose controlling shareholders or actual controllers are domestic non-financial enterprises, natural persons and recognized legal persons. Financial groups formed by cross-industry investment and holding of financial institutions shall determine the regulatory policy standards with reference to these Measures, and the specific rules shall be formulated separately. The financial institutions mentioned in these Measures include the following types:
(1) Commercial banks (excluding village banks) and financial leasing companies.
(2) Trust companies.
(3) Financial asset management companies.
(4) Securities companies, Public Offering of Fund management companies and futures companies.
(5) Life insurance companies, property insurance companies, reinsurance companies and insurance asset management companies.
(six) other institutions identified by the financial management department of the State Council.
The term "financial institutions controlled by financial holding companies" as mentioned in these Measures refers to domestic and foreign financial institutions controlled or actually controlled by financial holding companies. Holding or actual control is collectively referred to as substantive control in these Measures. Financial holding group refers to an enterprise legal person consortium composed of financial holding companies and their holding institutions.