PBoC and CBIRC issue notice on non-capital TLAC bond issuance for G-SIBS
Tim Hofer
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Tim Hofer
44 posts
CBIRC reviews insurance sector solvency work in 2021
The CBIRC has been working hard to raise standards and supervision of an increasingly important sector, but one that’s had its share of scandals (e.g. Anbang Insurance, Forsea and the universal life product debacle).
CSRC releases opinions on developing publicly offered funds industry
2022 has seen drastic daily swings in China’s equity markets, with the biggest mainland exchanges – Shanghai and Shenzhen – both down over 20% on the year. These reforms certainly won’t stop the current dip, but policymakers hope they’ll stem this type of destabilizing volatility down the road…
PBoC cuts banks’ forex reserve requirement ratio
This is a pretty moderate opening salvo to slow the RMB’s decline. The PBoC will likely cut the reserve ratio further if it’s not happy with the results…
State Council unveils plan for national private pension program
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April foreign financial institution approvals and specific financial opening developments
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Guangdong-Macau cross-border data verification platform trial begins
As we have previously pointed out, interoperability issues – be they legal, economic, or technological – have been one of the primary barriers to the integration of the GBA. The launch of the Guangdong-Macau cross-border verification platform represents a step toward resolving financial system compatibility issues and may develop into an important piece of infrastructure supporting the region’s financial connectivity…
CBIRC issues measures to support micro and small enterprises
MSEs have disproportionately borne the brunt of COVID-19 and its associated lockdowns in China, and their recovery has been much slower than that of large companies. This worries policymakers as China’s micro, small, and medium-sized enterprises provide most of the country’s jobs…
CBIRC issues document on rural revitalization work
Rural revitalization is a key policy aimed at keeping the economy growing, supporting employment, addressing inequality, and unleashing what the Party sees as a vast untapped consumer market, namely the rural population. Finance plays a crucial role here both in providing a vast financially-starved part of the economy with access to credit and beefing up insurance to help cushion farmers and rural businesses in the event of disasters…
PBoC calls for more research to help policymaking on transition and green finance
While decarbonization isn’t top of the agenda for 2022 as Beijing prioritizes stability above all, it doesn’t mean that regulators are just sitting around twiddling their thumbs. The PBoC is ensuring that it is laying the groundwork to enable the investment necessary to help China achieve its climate goals…