These measures will save companies some money, and should help boost exchange-traded bond issuance at the margin, but they aren’t going to invigorate private sector bond markets on their own.
China’s regional commercial banks and rural lenders have been a source of endless problems for regulators. While combined they comprise less than 25% of the country’s banking assets, they present the biggest risks to financial stability.
Xiao Jianhua was money man to some of China’s most elite families, so we may never know the true nature of his offense. What we really want to know is what Xiao told investigators, and whether he cut a deal for his cooperation
Xi wants anti-corruption to become less “course corrections through periodic crackdowns,” and more threaded into the very fabric of financial sector operations. Even with the economy faltering
But small banks are where the problems lie
Containing financial risk has been a primary focus for Beijing since Xi Jinping designated it as one of his “three tough battles” in 2017 – along with…
These measures are mostly about providing short-term support for the economy. Still, the measures aimed at property developers and infrastructure
These are “kill two birds with one stone” measures. The PBoC is reducing funding costs for some of Beijing’s highest priority economic segments and
The change in formulation around monetary policy isn’t a surprise – the PBoC has been signaling its new priorities for a while now. But, despite clearly increased urgency
Given the scale and speed at which China’s financial system has grown over the past decade, oversight has often struggled to keep up with developments on the ground. We read Futures and Derivatives Law as Beijing’s blessing of the accelerated expansion of the futures and derivatives market.