Alex Yang

47 posts

CBIRC calls for financial firms to “return to their roots”

  • Alex Yang
  • Posted on
Over the past five years, regulators have dismantled shadow banking, recapitalized problematic banks, and in general made the financial system far less risky. Recent developments have led us to believe that the next few years will be similarly tumultuous, however the focus on cleaning up the excesses of the system will diminish…
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State Council to overhaul financial regulatory system

  • Alex Yang
  • Posted on
We expect the reforms will change the way Beijing approaches financial regulation, concentrating prudential supervision with the PBOC while building a new, robust agency focused on supervising the conduct of all financial institutions outside of the securities sector…
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CBIRC issues updated draft measures on classification of trust companies’ trust business

These proposed regulations are part of the government’s long-running efforts to clean up the once free-wheeling trust sector following a series of high-profile scandals involving trust companies carrying out illicit activities. Trust companies used to be at the center of China’s shadow banking system, helping high-risk businesses unable to get financing elsewhere to raise funds, albeit at a high cost, while evading relevant requirements on risk control…
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Hong Kong and mainland fully reopen border

  • Alex Yang
  • Posted on
The full reopening of the border is welcome news not only for Hong Kong’s long-suffering business community, but for the thousands that regularly divide their time between the Special Administrative Region (SAR) and the mainland. It is also a highly positive development for Hong Kong’s wealth management and insurance businesses which have historically relied heavily on visiting mainland customers…
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CBIRC names and shames four insurers for inaccurate solvency data

  • Alex Yang
  • Posted on
The amount of money involved in these transgressions isn’t significant – for AIA it adds up to less than RMB 50 million, which wouldn’t have much impact on its overall solvency ratio. But that’s not the point – this is all about compliance and ensuring staff know exactly what they are supposed to be doing under the new C-ROSS II framework…
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