Party and State Council release major expansion plan for Qianhai economic zone
The Qianhai reform plan represents an effort by Beijing to throw an economic bone to a rattled and somewhat diminished Hong Kong…
CBIRC releases draft rules on liquidity risk management for WMPs
WMPs have long ceased to be the center of shadow finance risk. Still, regulators know…
Hainan releases wide-ranging implementation plan for financial sector development and reform
Plans for economic zones, pilot areas, cooperation zones and free trade areas are mushrooming all across China – in Shenzhen, Shanghai, the Yangtze River Delta, and the northeast rustbelt to name a few. All are aimed at building…
CBIRC revises rules on terms and premium rates for general insurers
China is seriously underinsured, especially in areas such as natural catastrophe and extreme weather events, like flooding which has caused significant property damage in China over the past two years. The government has been…
CBIRC is investigating Ping An’s property investments
Ping An is China’s largest insurer by assets and the country’s only insurer designated as a global systemically important financial institution by the Financial Stability Board. Consequently, any revelation of a significant and potentially destabilizing exposure to a troubled company or industry is…
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…