07 Jan 2022

CSRC proposes expanding Shanghai-London Stock Connect to include Shenzhen, Switzerland, Germany

The Shanghai-London Stock Connect has been an abject failure since its launch in 2018, unlike the Hong Kong Stock Connect, which has been a roaring success. But London, and capital markets in Switzerland and Germany could become more attractive for Chinese companies…


07 Jan 2022

State Council flags more inclusive finance measures to help small companies

Beijing has a long track record of leveraging its massive state-owned financial system to execute its policy goals. However, despite years of carrots and sticks from the PBoC and the banking regulator, large financial institutions are still reluctant to lend to smaller firms who are seen as more risky borrowers due to their lack of collateral to back loans and lack of credit record…


15 Dec 2021

CBIRC scraps foreign ownership limit on insurance asset management companies

The elimination of foreign ownership caps on insurance asset management companies is a welcome development for overseas insurers with operations in China…


14 Dec 2021

CBIRC issues policy encouraging financial institutions to support innovation, technology self-reliance

Until relatively recently, conversations around how to “end reliance on foreign technologies” have focused on the quality of domestic innovation…


14 Dec 2021

CBIRC issues guiding opinions on standardizing fees for banking services

Arbitrary pricing and fees have been a long-standing problem in the Chinese banking industry. Micro and small businesses as well as vulnerable groups in society, are…


14 Dec 2021

CBIRC, CBA establish a Financial Talent Pool to improve corporate governance at smaller financial institutions

A string of scandals and failures at smaller Chinese financial institutions over the past few years has convinced regulators that corporate governance is a major weak link that poses significant risks to the financial system. Getting new, experienced, and CBIRC-approved blood into troubled local lenders at senior executive and board level should…


14 Dec 2021

CBIRC allows insurance companies to conduct securities lending

Securities lending facilitates short-selling, and while Chinese regulators – like many other regulators – often express concern over the risks associated with the practice, it does play a role in…


13 Dec 2021

PBoC cuts reserve requirement ratio to support banks’ long-term funding needs

The RRR cut has been seen by many as a monetary stimulus. We do not share this view. We see the move as a targeted measure to help banks…


13 Dec 2021

Ant Group, Zhejiang SOE apply for credit reporting license

Only 35% of Chinese citizens have a formal credit history, which has held back the development of consumer finance in the country. The government has tried…


13 Dec 2021

Several Chinese insurers suspend online operations

The CBIRC’s October notice has evidently prompted insurers to take action to rectify practices in their online business and products to comply with the regulatory requirements. We expect…


13 Dec 2021

CBIRC launches rectification campaign in insurance sector after inspections

As the insurance industry is gradually given more leeway in the ways it interacts with China financial markets, regulators want to ensure that…


09 Dec 2021

State Council signs off on commitment system for securities and futures violations

These measures are among many that are being rolled out to comply with the new Securities Law which went into effect on March 1, 2020, with the aim of cleaning up China’s capital markets…


09 Dec 2021

GBA Wealth Management Connect update

Brisk activity on the WMC in its first several months bodes well for the program and for the future of cross-border financial connectivity in the GBA…


09 Dec 2021

PBoC and SAFE to unify Panda bond rules, lift restrictions on remittance of proceeds

Pushing the development of the Panda bond market seems to have shot up the “to-do” list of China’s regulators. This draft comes hot on the heels of the launch of…


09 Dec 2021

BlackRock’s first mainland fund passes initial lock-up period

BlackRock’s fund turned in a solid initial performance against the market. What’s more encouraging for the firm, though, is the high level of…


08 Dec 2021

CBIRC strengthens rules governing insurers’ equity investments and corporate governance

The measures reflect the CBIRC’s continuing concerns about governance and management in the insurance sector after a series of scandals over the past few years…


08 Dec 2021

CBIRC relaxes credit rating requirements for insurers’ investments in bonds

As China’s regulators continue to expand the scope of investment targets for insurance funds…


07 Dec 2021

SAFE proposes new forex derivatives to help companies manage risks

The RMB has been on an extended period of appreciation against the dollar and reached a six-year high in November. Regulators are increasingly worried that…


06 Dec 2021

Highlights of PBoC’s third-quarter monetary policy report

The priorities laid out above will be familiar to close observers of China’s economic policymakers. The PBoC has avoided…


01 Dec 2021

Financial regulators study 6th Plenum and Xi’s speech

Apart from formally ushering in the New Era of Xi Jinping, the 6th Plenum nailed down on paper what has been evident for some time…


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