PBoC rolls out new LPR mechanism
Unlike the current “dual track” interest rate system, the new LPR will be based on the prime interest rates of 18 banks.
China prepares to launch official digital currency
Authorities’ main purpose in developing a digital currency is to improve insight into transactions throughout the economy, as well as increasing overall control of the money supply. The digital currency should also reduce transaction costs as well as …
CBA looks to standardize WMP valuations
The new rules should help to add a measure of transparency and stability to the WMP market. As an increasing number of commercial banks look to …
Shanghai offers new incentives to foreign companies
Shanghai lowers assets threshold and removes requirements of paid-in capital as well as previous domestic investment to encourage foreign companies to headquarter in Shanghai
SAFE officials says Libra should be treated as a foreign currency
SAFE chief accountant indicated impacts Libra might have on China’s foreign exchange management and suggested policy solutions
Insurance Association of China holds symposium on health and life insurance products
12 Chinese-funded companies and 22 foreign-funded companies took part in the symposia.
Guangdong opens investment in elderly-care
The open of elderly-care market of Guangdong may be a test for further open the market of mainland
JPMorgan and Morgan Stanley claim majority stakes in JVs
JPMorgan won the bid with RMB 241.3 million to claim 2% share from its JV partner, making JPMorgan the first foreign company to have majority control of a mutual fund in China.
Ping An in talks to buy Huaxia Life
Ping An is trying to expand its market in China by buying part of Huaxin life
Health premiums see rapid growth in China
Health insurance premiums had grown by a third as Chinese people worry more about healthcare expenses recently
Financial regulators to release assessment rules for SIFIs
The new rules continue to improve the previous regulations for Systemically Important Financial Institutions
July Politburo meeting signals no policy loosening
H2 may see a slight increase in liquidity support but financial support will remain at its current level
Nomura to open new China JV brokerage by the end of the year
Nomura will be the second foreign company to have majority control in brokerage.
PBOC sets priorities for H2
The PBoC teleconference indicated that financial sector opening will continue, so as the de-risking and support to SMEs
Banks urged to control property lending
PBoC urges lenders to prioritize loans to the manufacturing sector and rein loans offered to the property sector.
Shenzhen forex regulators okay Qianhai reforms
Shenzhen pushes foreign exchange reform by broadening the scope of financing options for enterprises
CBIRC mulls new rules on foreign investment in insurance
Revision of the regulations governing foreign insurance companies is a crucial, practical step that regulators must take to allow more foreign investment…
Party committees hold ideological study sessions
While this study campaign may seem esoteric, it is co-opting time at all levels of the government – including all of the major financial regulators. Essentially, the campaign is an effort to…
AIA opens Tianjin and Hebei operations
AIA has been approved to add two more operations to its current seven operations in Mainland China
Qi Xinzheng under investigation for corruption
CCDI, CBIRC and Jiangsu Province’s anti-corruption agency announced that Qi Xinzheng, head of CBIRC Fujian office, was under investigation for “serious disciplinary violations”