30 Jun 2019

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…

30 Jun 2019

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…

30 Jun 2019

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.

28 Jun 2019

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…

28 Jun 2019

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…

27 Jun 2019

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 …

26 Jun 2019

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…

26 Jun 2019

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…

25 Jun 2019

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…

25 Jun 2019

Zhao Rulin under investigation

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25 Jun 2019

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…

20 Jun 2019

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…

18 Jun 2019

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…

17 Jun 2019

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…

17 Jun 2019

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…

17 Jun 2019

The new stock connect represents yet another an important new link with the international financial system, and as such…

15 Jun 2019

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 …

13 Jun 2019

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…

13 Jun 2019

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…

12 Jun 2019

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…

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