Zhang Qingsong appointed PBoC deputy governor following departure of Chen Yulu
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Qianhai and Hong Kong roll out measures to attract venture capital
The new measures look to widen the channels for cross-border capital flows between the mainland and Hong Kong in a bid to create a more robust venture capital ecosystem. They aim to…
Big banks lower personal deposit rates after LPR cut in win for PBoC’s new monetary policy approach
The cuts signal that deposit rates are reacting to policy rate changes – and that the PBoC’s new approach is working. The real question is…
PBoC details past-year achievements, lays out longer-term goals
The central bank has done a fine job reining in financial sector risk over the past five years. But…
CSRC vice chair calls for increased financial opening
China’s financial markets have opened further this year. But that opening is increasingly one-sided…
Exchanges expand onshore derivatives access for foreign investors
This is yet another substantive measure in China’s cautious financial opening…
CBIRC releases rules to improve internal controls at wealth management companies
Since 2017, financial derisking has been one of Beijing’s primary goals. Since then, regulatory efforts have focused on defusing extant risks – for WMCs that’s meant…
NDRC raises approval requirements for offshore debt issuance
This move is part of a broader aim by Beijing to exercise tighter control over what types of companies can raise cash – and for what purposes…
PBoC adds foreign banks to its core green finance program
Beijing knows that financing China’s green and low-carbon transition will not be easy, which is why it has been working on increasing foreign participation in green finance. However, this move isn’t just about expanding CERF…
PBoC cuts both one- and five-year Loan Prime Rates
The PBOC is playing things cautious…
Hengqin rolls out subsidies to attract semiconductor industry
As ties with the United States and Taiwan grow ever more brittle and as Washington puts pressure on other major chip producers to join its Chip 4 Alliance, China’s need to boost the development of its homegrown semiconductor industry grows increasingly urgent…
Insurers prepare for return of mainland consumers to Hong Kong
While the reduction of quarantine requirements to enter Hong Kong from the mainland may indeed restore some of the curtailed mainland insurance purchases, volumes are unlikely to recover to pre-COVID levels without additional health policy loosening or the deployment of the long-anticipated insurance connect…
Ministry of Finance takes direct stake in Guangfa Bank
At this stage, it’s unclear why Yingda transferred part of its stake to the MoF…
PBoC, CBIRC allow insurers to issue perpetual bonds
With the entry into effect of Phase II of the China Risk Oriented Solvency System (C-ROSS) in January, insurers have been forced to shore up their balance sheets as new solvency requirements eat into their core capital…
Rules aimed at overhauling domestic credit ratings system go into effect
These regulations are part of a long march to clean up problems in the bond market, implement the government’s commitment to ending the implicit guarantee that defaulting corporations will get a bailout, and develop markets where risks are correctly priced and investors bear the cost of defaults…
CSRC, HKSFC agree to expand Stock Connect trading days
This tweak is meant to both further integrate mainland and Hong Kong markets and induce more foreign capital to invest in Chinese stocks…
PBoC cuts MLF rate for first time since January
There’s no shortage of liquidity – M2 money supply growth in July was faster than expected, and the PBoC has been draining cash from the interbank market, where rates are rock bottom…
CBIRC scraps foreign ownership caps on insurance asset management companies
The elimination of foreign ownership caps on insurance asset management companies is a welcome development for overseas insurers with operations in China and is consistent with Beijing’s repeated pledges to open its financial sector to greater foreign participation…
China Green Bond Principles released, aligning with international standards
The release of the CGTBP is the latest step taken by Chinese regulators to align the Chinese domestic bond market with internationally recognized standards to expand the participation of international investors who are becoming increasingly wary of greenwashing by bond issuers…
First Stock Connect-linked A shares derivative warrants begin trading in Hong Kong
This is another incremental action to both further integrate Hong Kong and mainland markets and increase the attractiveness of A shares for institutional investors…