China’s Draft Financial Law And Key Regulatory Insights

On March 20, 2026, the Ministry of Justice (“MOJ”), together with the People’s Bank of China (“PBOC”), the National Financial Regulatory Administration (“NFRA”), the China Securities Regulatory Commission (“CSRC”) and the State Administration of Foreign Exchange (“SAFE”), released the Financial Law of the People’s Republic of China (Draft) (《中华人民共和国金融法（草案）》) (the “Draft”) for public comment through April 19, 2026.¹

China’s move toward a comprehensive Financial Law has developed quickly over several years. The concept was first officially proposed at the Third Plenary Session of the 20th Party Central Committee in July 2024² and was later reaffirmed by the State Council in November 2024 through its emphasis on advancing financial rule‑of‑law legislation.³ In March 2026, the Standing Committee of the National People’s Congress (“NPC”) confirmed that enactment of the finance and financial stability law would be a legislative priority.⁴ In line with these prior efforts, the Draft was