NDRC raises approval requirements for offshore debt issuance
This move is part of a broader aim by Beijing to exercise tighter control over what types of companies can raise cash – and for what purposes…
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PBoC cuts both one- and five-year Loan Prime Rates
The PBOC is playing things cautious…
Hengqin rolls out subsidies to attract semiconductor industry
As ties with the United States and Taiwan grow ever more brittle and as Washington puts pressure on other major chip producers to join its Chip 4 Alliance, China’s need to boost the development of its homegrown semiconductor industry grows increasingly urgent…
Insurers prepare for return of mainland consumers to Hong Kong
While the reduction of quarantine requirements to enter Hong Kong from the mainland may indeed restore some of the curtailed mainland insurance purchases, volumes are unlikely to recover to pre-COVID levels without additional health policy loosening or the deployment of the long-anticipated insurance connect…
Ministry of Finance takes direct stake in Guangfa Bank
At this stage, it’s unclear why Yingda transferred part of its stake to the MoF…
PBoC, CBIRC allow insurers to issue perpetual bonds
With the entry into effect of Phase II of the China Risk Oriented Solvency System (C-ROSS) in January, insurers have been forced to shore up their balance sheets as new solvency requirements eat into their core capital…
Rules aimed at overhauling domestic credit ratings system go into effect
These regulations are part of a long march to clean up problems in the bond market, implement the government’s commitment to ending the implicit guarantee that defaulting corporations will get a bailout, and develop markets where risks are correctly priced and investors bear the cost of defaults…
CSRC, HKSFC agree to expand Stock Connect trading days
This tweak is meant to both further integrate mainland and Hong Kong markets and induce more foreign capital to invest in Chinese stocks…
PBoC cuts MLF rate for first time since January
There’s no shortage of liquidity – M2 money supply growth in July was faster than expected, and the PBoC has been draining cash from the interbank market, where rates are rock bottom…
CBIRC scraps foreign ownership caps on insurance asset management companies
The elimination of foreign ownership caps on insurance asset management companies is a welcome development for overseas insurers with operations in China and is consistent with Beijing’s repeated pledges to open its financial sector to greater foreign participation…