Ministries move to support banks in extending loan maturities to MSMEs
Policymakers have been leaning heavily on banks to support ailing MSMEs and are now looking to ensure that banks themselves have adequate policy support. We expect to see this policy pattern to continue in the near future as officials do their best to …
Wuhan completes monumental testing effort
The huge scale of Wuhan’s testing effort speaks to China’s impressive capacity to …
Hainan to become China’s first free trade port
The Hainan FTP project has the full support of President Xi Jinping, who designed, arranged, and promoted the project. The project is thus …
Ministries pledge more support for MSMEs
China’s overall economic recovery depends in large part on the survival and business resumption of MSMEs, which the government says provide most of the country’s jobs. So far, efforts to shepherd these companies through the COVID-19 crisis have …
PBoC announces second batch of fintech regulatory sandbox projects
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PBoC officials call for reform of Commercial Banking Law
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FSDC releases 11 financial reform measures
The release of these 11 measures shows that despite the disruption of the COVID-19 pandemic, regulators are still highly committed to …
CBIRC relaxes restrictions for insurers investing in bank bonds
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Regulators increase scrutiny of “group buying” products sold by banks
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CBIRC launches campaign to improve quality of financial data
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Financial authorities issue new rules on credit financing
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CBIRC lays out guidelines to better regulate shareholder conduct
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PBoC warns of risks to banks’ profit growth
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CBIRC orders large banks to increase loans to manufacturing sector
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The shape of stimulus becomes clearer, cont’d
The policy prescriptions laid out in the GWR suggest a controlled ramping up of economic support policies and a modest increase in stimulus to …
The shape of stimulus becomes clearer
By targeting a deficit ratio of “more than 3.6%” the government appears to be giving itself leeway to increase spending further if need be, and the higher than expected fiscal deficit target is a clear signal that …
CBIRC approves ICBC and CCB wealth management units for operation
Foreign banks should continue to monitor the progress of China’s quickly proliferating asset management subsidiaries in order to determine how the market is evolving – and how to…
PBoC to assess fintech risks
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Fidelity applies to establish wholly owned China mutual fund
We expect to see more foreign firms apply to establish mutual fund subsidiaries in coming months to take advantage of the opening of the financial services market, in hopes of …
Party releases major policy document defining the “Socialist Market Economy”
As is typical of high-level policy documents, the opinions are extremely broad in scope but relatively light on specific details. Still, it is difficult to overstate how important …