Zhong An reports H1 profits
Zhong An’s turnaround may suggest a way forward for China’s other four internet insurance companies who so far have …
Ping An’s fintech arm to consider applying for Singapore digital banking license
OneConnect’s interest in virtual banking in Singapore, coupled with the company’s recent acquisition of a Hong Kong digital banking license, suggests that Ping An is looking to make a strong move in this direction. Additionally, Ping An’s overseas expansion is a reminder that …
Deutsche Bank, BNP gain corporate debt underwriting licenses
Until now, foreign underwriters have been restricted to the panda bond market which represents only a tiny portion of RMB-denominated debt in China. This move is part of the ongoing efforts to …
CSRC vice chairman advocates reform of derivatives market
Chinese regulators have long been concerned with the speculative aspect of futures trading and have been cautious in the opening of China’s derivatives markets. These reforms are a positive step, but are …
CBIRC adjusts policy rate formula for life insurance products
The notice lowered the cap for the interest rates of liability reserves for life insurance products. The cap for policies signed after August 5, 2013, was set at the annual compound rate of …
Aviva mulls Asia exit
Aviva is considering selling part if its Asian business while most other insurance see Asia as an important market for future development
Dajia forms four new units to take over Anbang asset
As long as the Anbang restructuring is ongoing, Chinese regulators will have a stark reminder of the insurance industry’s previously wild growth right in from of them. While the industry has improved markedly over the past two years …
Senior policy advisors warn of possible “financial war”
Chinese officials are actively considering various scenarios that may play out in a protracted US-China economic conflict. A financial war is certainly one of the scenarios under consideration, but it is …
Hong Kong protests persist
The protest has not hindered the integration of GBA and may even push it further.
PBoC establishes GBA promotion group
The group aims at coordinating regulators in the fast-developing Greater Bay Area
Global stock and bond indices up inclusion factors for Chinese securities
While these moves themselves will have relatively little immediate impact on Chinese capital markets, the overall trend of Chinese inclusion in global indices will help to better integrate China into international capital markets – and drive …
PBoC unveils three-year fintech plan
Financial regulators increasingly see the development of fintech as a critical element of their efforts to improve the financial system. As such, they are putting significant support behind the …
Goldman Sachs applies for majority stake in China JV
Goldman trying to increase its current 33% stake to a majority of 51%
Reforms aim to make Shenzhen into “model city”
Shenzhen will be given more autonomy in policy making as China tries to rely less on Hong Kong
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.