Foreign financial institution approvals and specific opening developments (January-February 2026)
Standard Chartered; BNP Paribas; HSBC; Citibank
Beijing considering recapitalizing banks, insurers
In June, the MoF deployed RMB 500 billion to recapitalize core tier-one capital in four of China’s big six state-owned commercial banks: Bank of China, Bank of Communications, China Construction Bank, and the Postal Savings Bank of China…
Xi calls for financial sector discipline, responsibility
Since 2024, Beijing has aggressively pursued these principles, most notably via an intensive anti-corruption campaign waged against senior banking officials…
Provinces scale back economic growth ambitions
The overall reduction in provincial GDP growth targets is the strongest signal yet that Beijing will do the same with the national target when the National People’s Congress (NPD) meets in March…
Qiushi downplays deflation risks
The article makes clear that policymakers see inflation overshooting as a bigger risk than prolonged price weakness. In practice, that biases policy toward under-stimulation rather than overreaction…
China bans unauthorized issuance of RMB stablecoins
Beijing fears that stablecoins could potentially undermine state control over monetary management and capital flows…
Foreign financial institution approvals and specific opening developments (January 2026)
On January 16, Mizuho Securities (China) Co., Ltd. completed business registration and was formally established in Beijing…
Xi-Carney meeting puts China and Canada on the road to reconciliation
It will take more than one meeting to undo years of acrimony, but Carney’s visit has put the process in motion – and exceeded expectations for the trip…
China books Canadian canola after breakthrough trade deal
Markets are treating this as a done deal, and we tend to agree, for two reasons…
Hong Kong to double size of offshore RMB liquidity facility
The RBF expansion strengthens Hong Kong’s role as a policy transmission hub for RMB internationalisation, allowing offshore RMB to scale in line with trade and investment demand.
Government aims for lower growth in 2026
Lowering the growth target sends a signal to officials that it is okay to let growth slide as they focus on other priorities…
China cracks down on tax evasion via bond fund dividend income
We think tightening the screw on institutional investor tax evasion is a sensible strategy, for two reasons…
2026 consumer goods trade-in program underwhelms
The trade-in program works by pulling forward future demand. Without an expansion in scope or an increase in subsidy intensity, its stimulus impact will diminish over time…
PBoC reclassifies e-CNY as interest-bearing deposit in major overhaul
This is the most consequential policy move yet to revive the e-CNY after years of underwhelming results…
Stock exchanges raise margin requirements to dampen exuberance
Beijing is happy with the A-share bull market that started mid-2025 – and the subsequent positive wealth and investor confidence effects…
PBoC expands relending quotas, cuts rates on structural support tools
Get smart: Investment has collapsed in recent months, and Beijing is keen to halt the decline…
PBoC says there’s space for interest rate, RRR cuts in 2026
Just because the PBoC is open to interest rate cuts, doesn’t necessarily mean officials will make such adjustments soon – or even at all.
Beijing pushes businesses to expand supplementary pension schemes for employees
The guidelines are unlikely to catalyze a meaningful expansion in enterprise annuity coverage in the near term…
Finance ministry signals expansionary fiscal stance in 2026
Expanding SPB pilots could help cushion the ongoing investment downturn…
Finance ministry rolls out fresh support for investment and consumption
The MoF’s policy package is an effective way of lowering funding costs for private MSMEs – which face tighter credit access and higher borrowing costs than their state-owned counterparts – without hammering bank margins.