14 Nov 2019

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 …


13 Nov 2019

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 …


12 Nov 2019

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 …


12 Nov 2019

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 …


08 Nov 2019

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 …


08 Nov 2019

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 …


08 Nov 2019

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 …


08 Nov 2019

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 …


08 Nov 2019

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 …


07 Nov 2019

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 …


07 Nov 2019

State Council to ease foreign investment concerns

China’s accelerated market opening is as much about allaying the concerns of foreign investors and MNCs as it is about the country’s own financial and economic calculus. This document explicitly addresses some of the areas that …


07 Nov 2019

Beijing municipality to partner with JD.com to establish new AMC

The establishment of a second AMC in Beijing is indicative of ongoing, and accelerating, efforts to clean up bad assets in the financial system. The presence of JD Digits in this partnership is of particular note – as it underscores …


06 Nov 2019

Hong Kong-mainland wealth management connect in the works

The recent emphasis on cross-border financial products within the GBA provides some insight into the thought process of top planners. Financial connectivity looks to be one of the key areas where officials are trying to …


06 Nov 2019

Top leaders lay out new measures for GBA integration

These measures, while seemingly piecemeal, give an indication of how the GBA is likely to take shape. Regulators are approaching the integration of the region from …


06 Nov 2019

US-China “financial war” update

At present, Chinese authorities do not appear to be overly concerned about the short-term effects of this bill. However, as we have covered in previously, Chinese officials are …


06 Nov 2019

China Pacific to take stake in Swiss Re

Some industry analysts have pointed out that China Pacific’s interest in Swiss Re may have to do with the former’s recent decision to issue GDRs via the Shanghai-London Stock Connect. There is speculation that the support of an established European investor like …


05 Nov 2019

China Merchants Bank opens wealth management subsidiary

CMB is just the latest domestic commercial bank to get its WM (aka asset management) subsidiary up and running. This push is likely to …


05 Nov 2019

China makes first cut in key lending rate since 2016

In general, lowering of the MLF interest rate should help to decrease borrowing costs for businesses. However, a mere 5-basis-point cut is virtually meaningless, given its …


05 Nov 2019

Chinese regulators in talks to offload Anbang successor

If regulators are able to successfully off-load Dajia Insurance, it will bring the Anbang takeover to a close. Importantly, the entire Anbang episode has been handled in a …


05 Nov 2019

Wirecard to buy Chinese payments group

As we highlighted with PayPal’s market entry last month, Wirecard will face an uphill battle to win market share from domestic payment titans WeChat Pay and Alipay. Nonetheless, the gradual entry of foreign firms, as well as …


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