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.