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On the equivalence of the regulatory framework of the People’s Republic of China for central counterparties that are authorised to clear OTC derivatives in the interbank market and supervised by the People’s Bank of China to the requirements of Regulation (EU) No 648/2012 of the European Parliament and of the Council (Text with EEA relevance)
Article 1

Article 1

For the purposes of Article 25(6) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of the People’s Republic of China consisting of the Law of the People’s Republic of China on the People’s Bank of China and its subordinated regulations, applicable to central counterparties authorised by the People’s Bank of China to clear over-the-counter derivatives in the interbank market, are to be considered equivalent to the requirements laid down in Regulation (EU) No 648/2012.