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…
London-Shanghai stock link launches
The new stock connect represents yet another an important new link with the international financial system, and as such…
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 …
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…
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…
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…
Both large and small Chinese banks continue to raise capital through share issuance
Capital needs throughout the domestic banking system remain acute. For larger banks, the challenge continues to be…
Ant Financial teams up with Vanguard
Ant Financial is looking to increase its footprint in all sorts of financial services – both inside and outside China. Given the company’s domestic reach, all foreign financial institutions should…
Hong Kong accounting regulator and MoF increase cooperation
While this move is related to ongoing efforts to integrate the GBA, the opening of audit books to Hong Kong companies should also been seen in a global context. Foreign auditing firms have been…
Hong Kong delays debate on extradition bill after protests
One particularly notable aspect of these protests was the fact that the Hong Kong financial and business community was fully aligned behind the protestors. That dynamic was in contrast to…
Guo Shuqing lays out financial sector priorities
Overall, Guo’s vision is one of financial institutions that can move up the value chain – providing more specialized services and complex financial products…
Cinda plans to sell its shares in Happy Life Insurance
On June 11, Cinda issued a notice stating that it intends to sell its 51% equity interest in Happy Life Insurance by way of …
Insurance connect inches forward
Finance officials in Shenzhen have indicated to us that insurance will be the first sector within financial services to pilot cross-border operations. Increased connectivity between the Hong Kong and mainland insurance sectors should be…
CBIRC likely to allow insurance firms more latitude to invest in equities
This is in part to channel more money to companies in an effort to combat the economic slowdown. It is also part of larger efforts to reduce …
Bank of Guizhou files IPO in Hong Kong
Baoshang Bank’s takeover by the government has put more pressure on city commercial banks to raise capital and increased concerns about credit risk for such banks. The success – or lack thereof – of the IPO…
CBIRC assess solvency stats
This marks the first improvement in solvency ratios in three years, implying that the sector is finally turning around following the drive to …
Shenzhen widens social credit system for businesses
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CBIRC seeking opinions on new draft of insurance agency regulations
China has effectively frozen approvals for new insurance intermediaries since August 2018. These measures are likely to …
Notice on further promoting the Facilitation of Capital Settlment of Insurance Companies
The new rules will allow insurance companies to exchange foreign currencies without approval for transactions of under …
Credit Suisse names Tang Zhenyi new China CEO
Tang Zhenyi was previously the chairman of the Hong Kong brokerage company CLSA Ltd., a wholly-owned subsidiary of CITIC Securities. He left the company…