Mainland netizens call for boycott of BNP Paribas amidst Hong Kong protests
BNP Paribas is, of course, not the only company that has recently seen a backlash from Chinese netizens due to either the Hong Kong protests, or the labelling of Chinese territories on the web. Swarovski, Versace, Coach, and Givenchy have all …
WeChat Pay to launch payment credit service in Q4
As we highlight on a monthly basis, China’s big tech companies are increasingly entering into the financial services space and will continue to become major competitors for both …
Two Sigma wins China private equity fund license
The entrance of well-established foreign wealth management firms into China is reflective of Chinese leaders’ drive toward continued financial market opening. Additionally, competition from high-quality foreign firms may …
Perpetual bond issuance reaches RMB 370 billion, and still growing
Banks across China continue to be capital constrained. We expect banks to increasingly rely on perpetual bond issuance to ….
Deutsche Bank to launch “Blue Water Fintech Space” in Shanghai
DB said that Blue Water will be run by a dedicated team for innovation and digital solutions, which will focus equally on client needs and …
Central bank launches bill swap operation
The CBS facility was created to boost liquidity for perpetual bond issuance by banks – allowing banks to raise capital via these instruments more easily. We expect the PBoC to gradually increase usage of the CBS facility as it seeks to …
Liu Haoling approved as New China Life Insurance chairma
Prior to his selection by New China Life’s board in August, Liu held various positions at the state-owned Central Huijin Investment Company Ltd., from 2011 to 2019, including deputy general manager and …
Top financial officials take up posts in provincial governments
It’s no coincidence that these appointments coincide with Beijing’s push to de-risk the financial sector and get on top of local government debt. The September appointments are further evidence that …
CSRC to move forward with capital market reforms
The reforms proposed by the CSRC are clear indication of what’s on the horizon in the regulator’s efforts to improve and open capital markets in China. Given that Yi Huiman has only been in the top job at the securities regulator for about six months …
Vice Premier Liu He meets with Citigroup CEO Michael Corbat
Chinese policymakers have shown an increased willingness to sit for such one-on-one meetings with foreign CEOs in recent months, in order to show their openness to the foreign business community amid the …
China abolishes QFII and RQFII quotas
The scrapping of QFII and RQFII quotas is unlikely to have a significant effect on portfolio investment into China. At the end of August, only USD 111.4 billion of the QFII program’s USD 300 billion quota had been used. The QFII and RQFII schemes have been …
Hong Kong insurance connect placed on hold
Hong Kong’s on-going protests were also likely a factor in the decision to postpone the rollout of the insurance connect. The protests are already affecting Hong Kong’s insurance industry, with sales of Hong Kong insurance products to …
CBIRC enhances supervision of affiliated parties
The CBIRC’s attempts to impose greater oversight on affiliated entities is in keeping with the broader efforts of financial regulators to disentangle the ambiguous relationships between parent companies and their subsidiaries. Such ambiguity has previously provided …
CCCDR focuses on improving key financial infrastructure
The fact that the CCCDR discussed these issues highlights that top policymakers are still highly focused on improving the financial system – and ensuring that it does a better job of financing real economic growth. Foreign financial institutions operating in China should …
Canada seeks WTO consultation with China over blocked canola export
Canada’s initiation of formal WTO procedures indicates growing frustration with China and is a further indication that …
CSDC looks to expand QFII clearing participation to brokerages
This broadening of participation in the clearing of QFII transactions is a necessary step toward implementing the proposed changes to the program that the CSRC released in January. It is yet another concrete move by regulators to …
PBoC ups liquidity support in September
The RRR cut does not represent a marked increase the scale or pace of policy easing. Rather, it is in line with previous moves to support bank liquidity as policymakers urge banks to lend more aggressively to small, private companies. We expect liquidity to …
Li Keqiang reiterates promise of financial sector opening
In their interactions with international visitors, top leaders have been keen to reiterate and reinforce the opening message. This, combined with the opening measures that have …
Trudeau sharpens criticism of China
Trudeau’s comments mark a hardening of his rhetoric toward China. The recent uptick in rhetorical acrimony is reflective of the impasse that has …
SAFE allows three brokerages access to the interbank forex market
This is the first time in over four years that SAFE has allowed new brokerages into the domestic interbank forex market. Counting the new additions, there are now five non-bank participants in the market, with the previous two …