CBIRC seeks opinions on new draft measures for online lending
The new version of the draft measures shows a clear shift in regulators’ approach – from containing the size of online loans, to focusing on …
PBoC launches credit reporting system 2.0
The PBoC’s primary goal in upgrading its credit reporting system is to develop a more accurate credit profile of individuals and businesses to help lower …
PBoC announces legislative priorities for 2020
Both the LPBC and the CBL are out of date, having been originally promulgated in 1995 and amended in 2003. The new LPBC and CBL will …
BoCom establishes fintech subsidiary
This move brings the total number of Chinese lenders who have set up fintech subsidiaries to 11 and is indicative of the importance banks are increasingly placing on …
PBoC deputy governor says there is more room for foreign participation in financial markets
Policymakers continue to publicly insist that China’s capital markets are open for business to foreign investors. And while it is clear that officials are continually looking to …
China reaffirms commitment to financial opening as part of phase one trade deal with US
The financial services section of the phase one trade deal serves as a clarification and a reaffirmation of China’s existing policy to open the …
CBIRC clarifies rules for reporting malfeasance
Improving oversight and reporting mechanisms has been an important part of the broader effort to contain financial risk. Moreover, such policies are …
PBoC releases fintech plan, outlines six pilot projects
Regulators are increasingly pinning their hopes for addressing the inherent weaknesses in the domestic financial system on banks’ and tech companies’ ability to provide fintech solutions. For this reason, officials have accelerated the …
Digital banking rules on the way
Online-only banks were part of China’s policy of developing “inclusive finance” and providing access to financial services to individuals and small companies traditionally shunned by the formal banking system, including those in …
FSDC to carry out province-level work
This reorganization will allow the central government to more effectively hold local governments accountable for doing a poor job in implementing the financial de-risking campaign as well as …
CBIRC announces its goals and priorities for 2020
Most of the CBIRC’s goals for 2020 are a continuation of existing policies – such as dismantling shadow banking, preventing real-estate speculation, and …
Financial reformer promoted in Guangzhou
As the powerhouse of southern China, it’s not unusual for Guangdong to have at least one finance veteran as vice governor. However, the promotion of Zhang is particularly interesting because …
Huishang Bank to participate in Baoshang restructuring
The unnamed new entity looks to be part of the restructuring package of Baoshang Bank, although nothing has been officially announced. The process is similar to …
MoF encourages foreign banks to underwrite local bonds
China needs to find more investors to buy the quickly increasing supply of local government bonds that will hit the market over the next few years, as local authorities are …
PBoC outlines 2020 tasks and priorities
Like with the CBIRC there were few surprises in the PBoC’s 2020 work plan. The broader framework for its policy goals had already been established …
PBoC’s trade finance platform pilots blockchain technology
This blockchain project has strong political backing, and the outcome will be a major factor in the government’s plans for blockchain applications. Foreign financial institutions should …
CBIRC issues guidelines for ‘high-quality development’ of the banking and insurance industries
None of the measures outlined above are particularly new, and these guidelines mainly reinforce existing efforts to improve the financial system …
CBIRC finalizes implementation measures for administrative licensing of foreign banks
The measures are primarily aimed at implementing financial opening via the CBIRC’s administrative procedures relating to …
Beijing denies suspending Shanghai-London stock link over political issues
Despite the CSRC’s official denial, the number of sources cited by Reuters indicate that Chinese authorities have indeed temporarily suspended the Shanghai-London Stock Connect. Such a move is a …
Cigna & CMB Asset Management get greenlight from CBIRC
Cigna & CMB Life Insurance executives have stated that the purpose of establishing an AMC is to improve the efficiency of capital investment, with a …