Shannon Dong

43 posts

CBIRC expands private pension pilot programs

Faced with a looming shortfall in the state pension system, Chinese policymakers have, over the past few years, been making a concerted drive to develop the private pension market to encourage people to save for their old age. The expansion of these pilot programs has taken place within a few months of their launch…
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PBoC, regulators issue Five-Year Plan to develop standards for the financial system

Chinese policymakers have for years talked about building a modern economy, and improving the financial system is a core part of that long-term project. China’s financial system is certainly large – the country has some of the world’s largest banks, and one of the biggest bond markets and stock markets – but it’s far from efficient or modern, and officials often speak of the need to move from a “large” financial system to a “strong” and “modern” one…
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PBoC releases Q4 monetary policy report

The forward-looking elements of the report point at the central bank’s oft-stated desire to avoid large scale stimulus in favor of more targeted measures to specific segments of the economy, such as small businesses, agriculture, green projects, and rural areas…
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Guangdong issues five-year plan for trade in services with implications for GBA integration

One of the major challenges in the development of the GBA has been achieving a reasonable degree of interoperability between the different legal and economic systems of Hong Kong, Macau, and Guangdong. As is often the case with five-year plans, the roadmap laid out by the Guangdong government is relatively high-level and lacking in substantive details…
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NDRC issues opinions on measures to advance GBA integration

Over the past two and half years, Shenzhen has been subject to a bevy of long-range, high-level policy documents pointing the way for its strategic development and granting it significant leeway to experiment with new policies. However, these policy prescriptions are more aspirational than instructional…
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PBoC, SAFE release notice on regulating offshore lending

In the short term, the adjustments will help to standardize offshore lending practices, and despite their incremental nature, these types of moves will add up to significantly ease cross-border capital flows over time. Further, Beijing will continually look to expand the RMB’s prominence in cross-border business by regularly tweaking and improving measures like these…
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