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 …
Guangdong launches financing platform for SMEs
The new platform looks to address a major pain point that Chinese policymakers are eager to resolve – namely, a lack of financing for SMEs. Blockchain technology furnishes lenders with a reasonably complete profile of …
PBoC ups liquidity support in January
The RRR cut does not represent a significant increase in the scale or pace of policy easing, and we don’t expect it to arrest the slowdown in credit growth or do much to boost the economy. Rather, this move is a continuation of …
State Council releases implementation rules for Foreign Investment Law
Overall, we continue to see the swift rollout and implementation of the new FIL as positive for foreign companies operating in China …
Ping An Bank approved to establish wealth management subsidiary
Myriad financial institutions – both foreign and domestic – are looking to tap into the fast-growing wealth management market in China. It is no wonder, then, that Ping An is looking to …
PBoC issues notice to de-link loans from benchmark lending rate
This is the latest step in the PBoC’s policy to drag the interest-rate system into the 21st century, make it more responsive to market supply and demand, and push lending rates lower. Although the new LPR benchmark was …
National People’s Congress revises Securities Law
These long-awaited amendments to the Securities Law are aimed at making China’s stock markets more transparent and market-driven, to give more protection to investors, especially smaller players, and to …
PBoC issues implementation measures on financial consumer rights protection
As disposable income increases and the government encourages consumers to invest in financial products, regulators are working to improve consumer protection and confidence. The financial sector has …