China’s top economic policymakers lay out new plan to boost consumption, improve profitability, and increase business investment
On February 23, the Central Commission for Financial and Economic Affairs (CCFEA) – the Party’s top economic policymaking body, chaired by Xi Jinping – met and laid out the latest plan for…
Five-year loan prime rate declines by 25 bps
On February 19, the five-year loan prime rate (LPR) – the benchmark against which residential mortgages are priced – declined 25 bps to 3.95% from 4.2%.
Chinese stock exchanges require ESG disclosures
On February 8, the Beijing Stock Exchange, Shanghai Stock Exchange (SSE), and Shenzhen Stock Exchange (SZSE) published the Guidelines for the Continuous Supervision of Listed Companies – Sustainability Reports for public comment.
A new chairman takes over the China Securities Regulatory Commission (CSRC)
On February 7, Wu Qing was made chairman of the China Securities Regulatory Commission (CSRC).
ETS interim regulations ramp up penalties for fraud, but put in question timeline for ETS unification
On February 4, the State Council released Interim Regulations on Carbon Emissions Trading, increasing penalties for fraudulent emissions accounting on the national emissions trading scheme (ETS).
Anbang Insurance looking to sell off its Annuity and P&C businesses
On February 2, Caixin reported that Dajia Insurance Group – the successor to Anbang Insurance – is looking to sell two subsidiaries.
NFRA publishes revised measures on fixed asset loans, working capital loans, and personal loans
On February 2, the National Financial Regulatory Administration (NFRA) published three sets of new measures governing bank credit…
Beijing takes crucial steps to integrate green energy certificate mechanism into consumption caps
On February 2, the National Development and Reform Commission (NDRC), National Bureau of Statistics (NBS), and National Energy Administration (NEA) jointly issued a notice to integrate the green energy certificate (GEC) mechanism into China’s “dual control” energy consumption evaluations.
Wu Lijun takes over as chairman of China Everbright Bank
On February 1, the National Financial Regulatory Administration (NFRA) approved Wu Lijun to take the position of chairman at China Everbright Bank Company Ltd.
Veteran banker Liao Lin to take over as ICBC chairman
On February 1, Industrial and Commercial Bank of China Ltd. (ICBC) announced that ICBC president Liao Lin (57) had been appointed as its new chairman, taking over from Chen Siqing (63), who has reached retirement age.
National Financial Regulatory Administration focuses on financial sector risk at annual work conference
On January 30, the National Financial Regulatory Administration (NFRA) held its annual work meeting to lay out its tasks for the year ahead.
Central government shareholdings in three national asset management companies (AMCs) being transferred to China Investment Corp
On January 29, Yicai reported the central government is transferring ownership of three asset management companies (AMCs) – also known as “bad banks” – from the finance ministry (MoF) to China Investment Corp (CIC).
State-owned shareholders of Hong Kong-listed Bank of Jinzhou plan to take the bank private to avoid involuntary delisting
On January 26, Bank of Jinzhou said its major shareholders will take the bank private rather than risk involuntary delisting from the Hong Kong stock exchange.
People’s Bank of China and Hong Kong Monetary Authority launch raft of measures to widen scope of cross-border capital flows
On January 24, the People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) unveiled measures widening the scope of cross-border capital flows. They include…
China’s Central Bank to Set up Credit Market Department
On January 24, Pan Gongsheng, Governor of the People’s Bank of China (PBoC), announced the establishment of a credit market department.
People’s Bank of China cuts banks’ reserve requirement ratio by 50 basis points, effective February 5
On January 23, the People’s Bank of China (PBoC) said it will cut banks’ reserve requirement ratio (RRR) by 50 basis points, effective February 5.
Officials look to stabilize ailing equity prices amid weak economy, tight financing conditions
Over the past month, officials have ramped up efforts to support onshore equity prices through various regulatory tweaks and direct market interventions.
Shanghai to lead a new wave of economic opening
On January 22, the general offices of the Party Central Committee and the State Council jointly released a reform plan for the Pudong New Area, extending through 2027.
China sovereign wealth fund to appoint Liu Haoling as new president
On January 22, Caixin reported that China’s sovereign wealth fund, China Investment Corporation Ltd. (CIC), is set to promote its executive vice president Liu Haoling (52) as its new president, citing unnamed sources.
NFRA releases annual insurer solvency report, citing positive outlook
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