China will ask foreign investors to commit to a lockup period of five years or more when they acquire stakes in Chinese banks, Liu Mingkang, chairman of China Banking Regulatory Commission (CBRC) said.

If Chinese commercial banks want to bring in foreign investors in future, the lockup period of shares held by those investors will have to be at least five years, Liu said at a meeting held at the Chinese Academy of Social Sciences on Tuesday. Liu didn't give details on when the new policy would be implemented.

Under current regulations, foreign investors are only required to make a three-year commitment on their holdings in Chinese commercial banks.