02 May 2024

Wu Bo steps down as CICC president, and Zhang Shouchuan is promoted to vice president of BOC

Wu Bo, 47, stepped down as president of China International Capital Corp. Ltd. (CICC), China’s leading investment bank; Zhang Shouchuan is set to become a vice president of Industrial and Commercial Bank of China Ltd. (ICBC).

01 May 2024

Politburo sets date for long-delayed Third Plenum

The signals from the Politburo meeting read-out align with our expectations that this Third Plenum will unveil a round of sweeping economic reforms, similar to…

01 May 2024

April Politburo meeting pushes more effective use of current economic support measures

The list of challenges the economy faces hasn’t gotten any shorter, but officials want to give their current policy prescription more time to work before considering course corrections. Fiscal policy remains the focus…

01 May 2024

April foreign financial institution approvals and specific financial opening developments

Neuberger Berman; Schroders; BNP Paribas; AllianzGI; Principal

23 Apr 2024

Li Qiang holds study session on capital market reform

Authorities are playing the long game. As much as they hope reform will boost the stock market in the short-term, their overriding goal is…

21 Apr 2024

Regulators issue measures to boost foreign investment in China’s tech sector

China is seeking to both counterbalance pressure from US investment controls and signal that China is open for business. It’s also hoping that…

20 Apr 2024

CSRC reduces mutual fund fees

The CSRC is pursuing a long-term plan to restore faith in China’s domestic stock markets and encourage the public to deploy their savings in equities. Reducing trading costs is part of the plan, but equally important is…

20 Apr 2024

CSRC broadens scope of assets that can be traded via Hong Kong Stock Connect

It has been a rough few years for Hong Kong’s financial sector, with IPOs declining and many investors choosing to relocate. The measures offer a small but welcome boost…

17 Apr 2024

Former chairman of New China Life Insurance suddenly disappears

The financial sector has been under intensified scrutiny from the CCDI. Dozens of financial firm executives have disappeared from public sight and been charged for corruption. The Party wants to rein in the financial sector to ensure…

17 Apr 2024

Authorities call for banks and insurers to increase support for manufacturers

Xi Jinping’s plan to transform China’s economy centers on the rapid upgrading of Chinese manufacturing and its expansion into more innovative, high-value goods. However, trade tensions have spiked as cheap, high-quality Chinese products flood overseas markets. Meanwhile, bank lending to manufacturers…

14 Apr 2024

Huijin purchases RMB 500 billion in Big Four bank stocks to boost stock market

While encouraging, the recent recovery in A-shares hasn’t buoyed broader investor sentiment, and it’s unclear whether the rise in equity prices would be sustainable…

13 Apr 2024

State Council issues blueprint for building trust in capital markets

Achieving those goals requires what officials call a “slow bull run” in stocks. That’s unlikely as long the public lacks trust in a market it perceives as…

13 Apr 2024

Minsheng Trust signals worsening distress

Traditionally a pillar of the shadow banking industry, China’s trusts are major lenders to…

12 Apr 2024

Regulators issue guidance on boosting financial support for green, low-carbon development

Beijing increasingly views green and low-carbon economic development not simply as a matter of environmental governance, but as the source of…

08 Apr 2024

State-backed brokerages to impose hard limit on executives’ pay at RMB 3 million

Reduced profitability amid wider macroeconomic weakness – and the reduced number of IPOs and other capital market services – have directly contributed to brokerages’ pay reduction policies. However, the core of the matter is the fact that policymakers are…

08 Apr 2024

PBoC launches RMB 500 billion relending facility for small tech companies

The PBoC is concerned that large-scale monetary stimulus will exacerbate currency depreciation and capital flight while further eroding bank profitability. By channeling monetary support through the relending facility, officials can…

05 Apr 2024

PBoC, NFRA eases car loan policies to boost auto consumption

Beijing’s efforts to revive consumption are falling short, due in part to weak domestic demand for big-ticket items – including automobiles. Apart from the State Council’s recent consumer trade-in push, however…

31 Mar 2024

March foreign financial institution approvals and specific financial opening developments

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21 Mar 2024

PBoC signals it is comfortable with slower credit growth

The PBoC has repeatedly said it wants to “revitalize credit efficiency” this year, and given Xuan’s comments, it’s increasingly clear that…

20 Mar 2024

Central bank calls for improving transaction environment for credit cards

The central government’s top-down efforts might help push major public institutions…

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