CBIRC tightens supervision of insurance group companies
All financial regulators are under orders to follow the Party’s campaign to defuse financial risks and contain them before they spread and potentially endanger the stability of the financial system. An important part of that work is…
CBIRC approves establishment of national pension company
Private pensions will be indispensable to resolving China’s looming pension crisis. The private pension sector has been slow to…
PBoC-led committee releases standards for environmental information disclosure and environmental equity financing tools
You can’t manage what you can’t measure. As green finance continues to be a priority for Beijing, these environmental information disclosure standards will…
China to launch new stock exchange for innovative small companies in Beijing
Ensuring that SMEs have adequate access to funding has been a long-standing concern for the Chinese authorities. Banks – traditionally the largest source of financing in China – have proven themselves ill-suited to the task of…
State Council increases relending quota to support private sector
China’s policymakers have for years tried to get banks to lend more money to small companies and the agriculture sector with mixed success…
PBoC Party committee meets to promote common prosperity
Since 2017, Xi has talked about common prosperity and reducing inequality but there have been few concrete manifestations of this stated commitment…
CSRC outlines priorities for remainder of 2021 and beyond
China’s financial regulators all hold half-year meetings to review the work of the first six months and set out priorities for the rest of the year…
Shanghai releases plan to become an international financial center
Shanghai has long held the status of China’s financial center. This FYP primarily aims to ensure the city stays at the top by broadening the services it offers and improving its competitiveness …
Shenzhen to establish international securities arbitration center
The Shanghai and Shenzhen stock markets are the world’s fourth and eighth largest, respectively, by market capitalization. Between them, they have more than 5,500 listed companies…
Regulators tell banks to ensure clean up of nonstandard WMPs meets year-end deadline
It’s been a long, hard slog for regulators to overhaul the WMP sector and resist banks’ efforts to water down and delay the new rules. These adjustments aren’t substantial…
AIA says it’s awaiting regulatory approval to start operating in more mainland cities
AIA has a long history in China and has notched up a series of firsts among foreign insurers, including being the first to get approval to set up a wholly foreign owned life insurance company incorporated in China…
Citic to establish pension fund joint venture
The dire state of China’s pension system finally appears to have spurred policymakers into action…
PBoC issues guiding opinions for development of corporate bond market
The aims laid out in the opinions are essentially a coalescence of the long-held, disparate objectives of China’s financial regulators. They also, as opinions often do, reiterate rules that already exist…
PBoC suspends issuer credit rating requirement for non-financial companies
Even though the PBoC has suspended the requirement, companies will still need to get their bonds rated if they want anyone to buy them…
Guangdong releases five-year plan for financial development, including proposals for GBA integration
Financial integration is one of the goals of the GBA and measures to support this policy have been slowly announced and introduced since the development plan for the region was issued in early 2019…
CBIRC issues draft measures governing reserves for non-life insurance business
China is severely underinsured, especially in non-life insurance areas such as natural catastrophes and public health crises, and the government has been pushing companies and state entities to increase their cover…
CBIRC inspection highlights problems with personal insurance products
The CBIRC periodically reports on the results of inspections and spot checks of the various insurance sub-sectors…
CBIRC cracks down on deceptive practices by internet insurance companies
Malfeasance and shady dealings have become an increasingly prominent problem in China’s growing online insurance industry…
Allianz approved to establish China’s first wholly foreign-owned insurance asset management company
Allianz China was the first wholly foreign-owned insurance holding company and this latest approval marks another milestone for the German insurer…
Bank of Wenzhou gets second bailout, this time from rural commercial banks in Zhejiang
Bank of Wenzhou is the latest in a string of small regional lenders that are being recapitalized as part of a cleanup of the banking sector…