PBoC, SAFE share their takeaways from Party Congress
While that last point is incredibly vague, it hints that the regulators are likely considering new measures to bolster developers through the stock and bond markets. We also suspect the authorities will look to further streamline and consolidate China’s byzantine bond market.
CSRC stresses importance of developing capital markets in Party Congress reflections
The CSRC is going to be very busy during Xi’s third term. Beijing has major plans to steer more of the country’s savings into domestic capital markets, and, in doing this, to fund the policy-priority sectors that will help drive the next phase of China’s growth – areas such as green energy and advanced manufacturing.
Shenzhen issues the most detailed environmental information disclosure requirements for financial institutions yet
Shenzhen’s guidelines provide an unprecedented degree of specificity that builds on the Guidelines for Financial Institutions’ Environmental Information Disclosure, signaling the implementation of China’s environmental and green finance information disclosure system after putting in place uniform standards across the financial sector last year.
CBIRC measures to streamline administrative approvals for domestic lenders go into effect
These changes are part of the broader fangguanfu campaign – spearheaded by Premier Li Keqiang – that roughly translates to…
Major banks and insurers release statements in support of Beijing’s policies
The financial sector is falling over itself to support government policies, particularly in light of the Party Congress. That push, plus the…
UBS becomes first foreign firm to trade Chinese commodity futures under QFII scheme
China has the world’s biggest commodities futures markets, but their insularity means they only have limited relevance to global commodities pricing. Increasing the relevance of Chinese commodity markets is…
Shanghai Stock Exchange names new Party secretary
Qiu’s views on financial markets appear to align closely with Beijing’s broader ambitions – including the many initiatives currently underway. Both increased regulatory supervision and…
PBoC releases exchange rate management report
Beijing is confident in its exchange rate policy. This report signals that the tried-and-true mix of light-touch intervention and “reasonable” market fluctuations is here to stay.
PBoC releases RMB internationalization report
Over the last couple of years, Beijing has elevated RMB internationalization as a policy goal. It’s slow going, but a regular flow of supportive reforms – as well as growing international RMB use fueled by Western sanctions on Russia over its invasion of Ukraine – will ensure further progress.
PBoC releases derisking report
Much of the corruption, opacity, and shoddy credit evaluation that has plagued China’s financial industry for decades has indeed been substantially ameliorated in recent years. And it’s high time. As growth slows, it’ll become harder to hide financial risks.
PBoC outlines key priorities for developing onshore bond market
Improving the bond – and equity – market’s ability to channel funding to cash-starved, innovative private firms is key to Beijing’s tech development plans. To date, there’s little progress to speak of despite the PBoC’s insistence.
September foreign financial institution approvals and specific financial opening developments
Allianz discussing onshore expansion; Goldman Sachs reduces China workforce; Bank CEOs testify before US Congress…
PBoC to expand digital yuan pilot
This provincial-level expansion will likely become the roadmap for the e-CNY’s national launch – the PBoC runs e-CNY pilots in important regional cities first and then…
CSRC approves launch three ETF options contracts
Financial regulators need to provide more derivative products to attract long-term, institutional money to China’s capital markets as sophisticated investors demand diversified risk management tools for their portfolios…
PBoC issues draft measures on related party transactions of financial holding companies
These measures represent another step in building a regulatory framework to manage FHCs, reducing financial risks associated with them, and bringing them under closer oversight following…
CSRC issues revisions to Futures Exchange Administrative Measures
China’s financial system has grown at unprecedented scale and speed over the past decade and regulation and oversight have often failed to keep pace. Beijing wants…
He Chunlei to take over as chairman of China Re
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HKMA CEO hints at expansion of GBA Wealth Management Connect
The Greater Bay Area WMC has generated significant interest in its first year of operation with 35,600 investors having taken part and a total of RMB 1.45 billion worth of transactions. Yue’s comments suggest…
Hengqin lures listcos with cash incentives
Along with measures announced in July to attract the semiconductor industry to the zone, these measures seek to…
CBIRC issues Q2 review of insurance industry solvency
In addition to bringing China’s insurance industry into line with global standards on solvency and risk prevention, C-ROSS II aims to…