CBIRC official outlines concerns about health of joint-stock banks
Financial de-risking and the overall health of the financial system have been key concerns for Chinese regulators for several years, as we have highlighted regularly in our analysis…
Citigroup subsidiary wins final approval to launch onshore fund custody services
China is sticking to its promises of opening up its financial sector to foreign companies – an important signal to reassure international investors that China is still open for business and prepared to abide by the agreements it has made…
CBIRC issues new rules on the regulatory responsibilities of its dispatched offices
There is little new in these rules, rather they are part of broader efforts by Chinese regulators to clarify and standardize regulatory procedures and responsibilities to increase efficiency and reduce ambiguity in the financial sector’s legal framework…
Party’s economic affairs commission calls for better supervision of financial system
The high priority that continues to be given to controlling and defusing financial risks indicates that the Party still doesn’t see the problem, which it identified in 2017 as one of its three critical battles, as being anywhere near resolved…
CBIRC outlines second-half priorities at mid-year work meeting
There’s little new in the CBIRC’s intentions in the readout of this meeting, but it’s still useful to know the commission’s priorities don’t appear to have changed from what was set out at the beginning of the year…
CSRC clears Fidelity to open mainland mutual fund business
The approvals for foreign financial institutions (FFIs) to set up wholly owned operations in China keep on coming. The key question is whether they can successfully go it alone without a local partner…
MoF working on more support to meet carbon goals, researchers propose carbon tax
The MoF first put forward a plan to tax greenhouse gas emissions in 2010 and did so again in 2013. But its proposals have failed to gain traction partly due to opposition from some policymakers concerned that a tax could jeopardize economic growth…
PBoC offers more details on tools to support carbon emission reduction
It would be tempting to focus on the fact that the PBoC’s Q2 monetary policy implementation report largely confirms media reports that the carbon emission reduction tool would take the form of a re-lending tool…
JP Morgan to become first wholly foreign-owned securities brokerage in China
JPMorgan may be the first, but it won’t be the last foreign firm to take full control of its onshore securities business…
CSRC accepts Standard Chartered HK’s application to set up mainland brokerage
This time, Standard Chartered bypassed the JV step and applied directly to set up a wholly owned subsidiary…
PBoC releases disclosure requirements for non-bank payment institutions
These measures are another step in efforts to clean up the payments sector, tighten oversight, and control risks. NBPIs have historically been lightly regulated – and the PBoC has long been uncomfortable with the largely hidden risks they pose to the financial system…
CBIRC issues measures to support Henan flood relief efforts
The recurrence of deadly flooding in Henan has underscored to regulators the importance of ensuring that financial institutions are doing their part to offset losses and contribute to economic recovery…
CBIRC revises reinsurance regulatory framework
We expect that China’s reinsurance market will continue to grow in the coming years and Beijing is laying the groundwork for an expanded reinsurance regulatory regime…
Standard Chartered announces establishment of center to service GBA expansion
Standard Chartered is the latest bank to announce a sizeable investment in the GBA – in recent months, several Hong Kong and foreign financial institutions have beefed up their headcount and poured additional resources into the mainland portion of the GBA in anticipation of this potentially lucrative new market opening for business…
Financial regulators outline priorities for remainder of 2021
These mid-year meetings are a good way for regulators to take stock of what’s been achieved and what remains to be done…
PBoC issues final version of rules to overhaul operations of credit rating agencies
Regulators have moved fairly quickly to publish the final version of the notice, an indication of the urgency of overhauling a sector hit by scandals and bond defaults that have exposed serious shortcomings in the current system…
CBIRC orders trusts to clean up non-financial subsidiaries
Trusts, long a central pillar of the shadow banking industry, have been under intense scrutiny from regulators over the past few years. This notice is part of a long-running crackdown to rein in practices that have fueled financial risks…
Anxin Trust to raise RMB 9 billion in state-backed bailout
Yet again, the state has to come to the rescue of a failed financial institution to prevent its problems from spreading across the sector – and leading to financial and social instability…
Pan Gongsheng sets out principles and priorities for foreign-exchange reform
While regulators may be keen for more overseas capital investment in RMB assets and, to some extent, for increased outward flows, the central government still wants a substantial say over how this capital – both inward and outward – is deployed…
Beijing and Chongqing to be approved as pilot zones for green finance reform
Achieving peak carbon and carbon neutrality will not come cheap and ensuring sufficient financing is available to both the public and private sectors to achieve those goals will be key to their success…