1 day ago

CSRC proposes extending registration-based IPO system to all domestic exchanges

This change has been on the cards for years and, while it was already being applied to the country’s three smaller stock markets, the two biggest bourses – the main boards in Shanghai and Shenzhen – were still operating under the old, time-consuming system. 

6 days ago

December & January foreign financial institution approvals and specific financial opening developments

JPMorgan; Standard Chartered; Schroders; Principal; Morgan Stanley; Citi; Allianz

6 days ago

CBIRC revises loan management rules to support the real economy

Much of the content in these regulations focuses on expanding lending to science and technology research. These revisions are part of a yearslong regulatory drive to ……

6 days ago

CSRC revises administrative measures for securities and futures companies’ private equity asset management business

The CSRC and other financial regulators are increasingly confident in the success of the campaign to derisk the broader asset management sector and reorient it toward becoming a stable, long-term-focused wealth creator. With a more solid risk management framework in place, we expect to see regulators …

1 week ago

CBIRC names and shames four insurers for inaccurate solvency data

The amount of money involved in these transgressions isn’t significant – for AIA it adds up to less than RMB 50 million, which wouldn’t have much impact on its overall solvency ratio. But that’s not the point – this is all about compliance and ensuring staff know exactly what they are supposed to be doing under the new C-ROSS II framework…

1 week ago

CBIRC seeks public feedback on new rules for country risk management of banking institutions

Given Chinese banks’ increasing involvement beyond China’s borders, particularly in countries that have relatively unstable political and economic contexts, regulators in Beijing see it as imperative that banks shore up the way they evaluate country risk. This is yet another measure aimed at bringing China’s financial regulations more closely in line with international standards…

1 week ago

CSRC issues administrative measures for the securities brokerage business

China’s securities sector has a bad reputation among domestic investors due to scandals involving a range of bad behavior, including misleading sales tactics, fraud, and unethical conduct. To be sure, regulators themselves are partly to blame because of their relatively lax oversight and weak protection of investors’ rights…

1 week ago

CBIRC releases notice on grading system for foreign bank branches

China’s financial authorities are working through a raft of regulations to bring the country’s financial supervision into line with international practice and standards. These updated measures on foreign bank ratings are part of this upgrading…

1 week ago

This is another small step to opening up China’s financial markets and attracting more foreign capital into the country, as well as deepening links with other offshore markets and providing more investment options for holders of offshore RMB. It’s notable that China’s offering is specific to tech stocks…

1 week ago

CBIRC issues draft opinions to encourage the development of inclusive insurance

Despite years of effort to develop the insurance industry, China remains severely underinsured. This poses a very real danger to broad swathes of the population and threatens to erase the hard-won gains of the poverty alleviation campaign…

1 week ago

CBIRC releases draft measures aimed at standardizing commercial banks’ custody business

As China’s financial system grows and becomes increasingly complex, it is critical that policymakers put the legal framework in place to underpin that system. As such, over the past few years, financial regulators have released numerous measures like these aimed at solidifying various regulatory frameworks and bringing them more closely in line with international practice…

1 week ago

Shenzhen Stock Exchange launches trial of GBA bond platform

This new GBA Bond Platform (not to be confused with the GBA Bond Connect) represents yet another effort to increase financial connectivity in the GBA region and  tap into sources of cross-border funding. The fact that the pilot involves RMB products issued in Hong Kong suggests the initiative is also linked to efforts to internationalize the Chinese currency. We will continue to monitor the platform’s development…

1 week ago

CBIRC issues new rules on consumer protection for banking and insurance institutions

These measures are the latest in a long line of regulations issued by the central bank and the CBIRC to improve protection for consumers of financial products and ensure that the business practices of banking and insurance institutions do not take advantage of their customers. Financial literacy in China is weak and consumers have frequently fallen victim to unscrupulous sales practices and promises of fool-proof investments, not to mention the illegal collection and sale of personal data…

24 Jan 2023

CBIRC chairman pens essay on financial sector reform

Guo is irreplaceable. During his tenure at the CBIRC, the hard-charging regulator made China’s financial system a far less risky place…

20 Jan 2023

CBIRC holds annual work conference

The CBIRC and the rest of the financial regulatory apparatus do deserve kudos – as they often remind us – for their achievements over the past half-decade. They’ve cleaned up serious financial risks – with, for the most part, minimal disruption to the economy…

20 Jan 2023

PBoC, MofCom release notice on boosting cross-border RMB use

Internationalizing the RMB is a key goal for Beijing, as it means…

20 Jan 2023

PBoC, CBIRC call on major banks to boost support for real economy

The PBoC and CBIRC’s overarching message isn’t all that new. They aren’t asking banks to lend more in 2023, per se, but to lend smarter…

20 Jan 2023

SAFE holds annual work conference

The overarching goal of Beijing’s financial opening policy is to drive more capital to high-quality development – that means SAFE’s priorities fall into roughly two buckets:…

20 Jan 2023

PBoC holds annual work conference

Everything enumerated in this readout is old news. The PBoC faces a complex environment in 2023…

20 Jan 2023

PBoC convenes Q4 monetary policy meeting

China’s economic woes can’t be fixed with monetary policy. What’s needed is a recovery in consumer sentiment, accompanied by fiscal support for households…

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