BNP Paribas looking to expand China business
In an interview with SCMP, Lai said that the recent opening of China’s capital markets has created “unprecedented opportunities” for foreign banks. Lai said that…
Alipay to bring unified mobile payment system to Europe
Amid heightened US-Sino trade tensions, Chinese fintech giants are looking to expand into other markets. Due to the high number of…
Increased oversight over personal loans and credit card borrowing
Regulations are tightened as concern over rising household debt and capital flows into real estate market grow.
New China Life appoints new CEO
On June 28, New China Life Insurance Co. Ltd. announced that Li Quan will take over as CEO. The position had been vacant since former CEO Wan Feng resigned…
Xi promises further market openings
The financial opening measures outlined by the FSDC on July 20 are clearly an effort by the FSDC to make good on Xi Jinping’s statements at the G20, as well as…
Liu Haoling expected to be appointed New China Life Insurance Chairman
Liu is currently serving as director at the Legal and Compliance Department at China International Capital Corporation (CICC). He has previously worked at Central Huijin Investment Co., Ltd. and …
CBIRC optimizes ABS issuance procedures
The policy simplifies the process for insurers’ asset management companies to issue ABS. CBIRC approval to issue ABS will be needed…
CBIRC optimizes ABS issuance procedures
The policy simplifies the process for insurers’ asset management companies to issue ABS. CBIRC approval to issue ABS will be…
CBIRC holds symposium on SME lending in Taizhou
That financial institutions should do more to support SMEs has been regulators’ main message for the past year. All financial institutions – including insurance companies – should emphasize…
Zhao Rulin under investigation
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Nansha processes first cross-border mortgage
This financing method is expected to improve the capital-raising capabilities of Chinese enterprises by eliminating the transfer fee required when transferring capital raised through domestic mortgages…
Citigroup announces “digital transformation” in China
Citi China also plans to cooperate with a third-party platform to offer lending services. Buckley says that Citi has partnered with…
Legend Holdings, Lakala Payment, and VMS Securities to form JV
The expected establishment of Lianxin Securities shows that it is not just foreign financial institutions that are looking to grow their footprint in the domestic financial sector…
NIBFC establishes market mechanism for repo defaults
Some of the specific details of the new pledged repo default mechanism remain unclear, but in general the goal of the blind auction mechanism is to ensure that larger banks continue lending to smaller banks. This is part of the broader regulatory reaction to…
NDRC announces intention for further opening
Authorities remain desperate to change the narrative that China is not open for business – especially given elevated tensions with the US. Efforts to change this narrative are not just about optics…
London-Shanghai stock link launches
The new stock connect represents yet another an important new link with the international financial system, and as such…
CBIRC to create new company to take over Anbang assets
The establishment of Dajia marks a major step in the government’s efforts to restructure – and eventually divest itself of – Anbang. Creating a new entity that does not …
UBS takes heat for “Chinese pig” comment
All foreign financial institutions operating in China should take note of this episode, as it underscores the specific type of reputational damage that can…
Top financial officials promise more opening
Given the deterioration in the domestic economy, alongside uncertainty arising from the trade war with the US, we continue to look for any sign that officials will instead focus on…
ICBC Asia launches Greater Bay Area Premier Banking Services
The strategies that China’s domestic financial institutions are using to grow their market footprints within the GBA should be closely tracked by all foreign financial institutions. Chinese banks – and other sectors of the financial industry – are being…