Chongqing Rural Commercial Bank and Xiaomi get go-ahead for joint venture consumer finance firm
Xiaomi is indicative of the wider trend of China’s technology companies looking to get into financial services. The company has been looking to …
Chubb agrees to buy huge stake in Huatai
In March, the CBIRC approved Chubb to buy shares in Huatai up to 26.2%, surpassing Junzheng Energy & Chemical Group to become …
CBIRC issues new rules on insurance asset management products
In line with similar regulatory efforts in recent months, these measures seek to make better use of the capital base within the insurance industry in order to boost …
CBIRC releases draft of rules on equity management of trust companies
In recent months, regulators have made standardization and corporate governance a top priority as they seek to de-risk and impose uniform standards on China’s financial sector. A major part of this drive focuses around …
AIA brings on former top Ping An exec as CEO
Lee’s onboarding is likely a precursor to accelerating AIA’s expansion in China. Additionally, Lee may be able to draw on Ping An’s fintech experience to …
Beijing BIRC strengthens interbank management business
Regulators are increasingly focused on strengthening oversight of China’s interbank markets, where China’s smaller commercial banks receive much of their funding. The risks of this system have been …
Smaller lenders gain approval to increase investment in financial lending firms
This is one of several recent approvals given by local regulators to smaller lenders to increase their investments in financial leasing firms. The approval gives the SRCB the right to …
Aviva to retain China and Singapore operations
Financial media had previously reported that MS&AD and Manulife were both considering a bid for Aviva’s Singapore business, but neither company was able to …
Small bank restructurings get underway
Moves like this make it clear that for many of China’s smaller banks, run-of-the-mill capital raising will not be enough to …
OneConnect files for IPO via New York listing
More broadly, OneConnect’s IPO may serve as an important bellwether for the future development of – and investor appetite toward – the Chinese fintech industry. It bears …
Foreign financial institutions continue to obtain new licenses and approvals
Of the above approvals, Allianz, in particular, is the latest in a spate of “firsts” in which foreign financial companies have received regulatory approval to …
CMB and JD Digits prepare to launch direct online bank
After getting the final approval from regulators, Zhaodong will join the ranks of the other online lenders that have been established by China’s tech giants …
Regulators reassure on banking system stability
Financial officials continue to go to great lengths to send a message of confidence in their ability to manage the growing risks emanating from the financial system. Indeed, many of the liquidity, capital, and solvency risks that small banks in China are facing …
AXA China has no plans to establish wholly-owned life insurance entity
Veyry also said the company has no plans to increase AXA’s stake in its joint venture with …
CBIRC issues implementation measures for administrative licensing of foreign banks
These measures are in line with the PBoC’s recent administrative reforms. They are meant both to streamline the administrative process governing the establishment – and broader operations – of foreign-funded banks and to create …
PBoC looks to update approval procedures
In the past few months, Chinese regulators have sought to clarify and standardize administrative procedures in a bid to …
CBIRC looks to strengthen consumer protection
Regulators recently increased emphasis on enhancing protection for consumer rights and interests across the financial industry is indicative of their attempts to create …
CBIRC refutes reports of sweeping bank mergers
We believe that authorities will continue to take a gradual, piece-meal approach to the challenges facing the banking sector in the short term. However, we consider a significant consolidation in the banking sector to be …
MofCom outlines reporting requirements for foreign-invested business
As China continues its financial opening, efforts are also being made to ensure that foreign-invested companies are properly monitored and regulated. MNCs have always been expected to report to …
MSCI to increase weighting of China stocks
The controversy surrounding MSCI’s decision is largely manufactured. Mainland stocks have long been underrepresented in global indexes, and we expect a number of global indexes – tracking both equities and bonds – to continue to …