Tianyu Zhu

28 posts

CBIRC steps up regulation of commercial banks’ off-balance sheet activities

Financial institutions’ off-balance sheet activities have long been a concern for China’s regulators and policymakers, who have been on a mission to rein in shadow banking and defuse financial risks since 2017 when a major crackdown began after a string of corporate scandals. Poorly regulated and opaque off-balance sheet activities tend to be more risky than on-balance sheet lending and could pose a systemic risk to the financial system.
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Eight ministries jointly release fintech pilot plan for Yangtze River Delta region

  • Tianyu Zhu
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The YRD is not only one of China’s main industrial hubs, it is also home to cities that are leading the way in fintech – Hangzhou, for example, is the home of e-commerce giant Alibaba and its fintech affiliate Ant Group, which operates the country’s biggest mobile payment platform. So, it’s no surprise that policymakers have turned to the region to experiment with and develop financial tools to support the country’s engines of technological innovation.
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PBoC, SAFE release rules to facilitate foreign investment in domestic bond market

  • Tianyu Zhu
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China has been working hard to make its RMB 138.2 trillion bond market more attractive to FIIs over the past two to three years, removing obstacles that investors have complained hinder their ability to trade and make the market less appealing. But in spite of Beijing’s efforts, FIIs have been pulling money out of the market this year amid concerns that economic growth is declining, mainly as a result of the government’s zero-COVID policy.
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CBIRC releases draft revisions to banking supervision law

  • Tianyu Zhu
  • Posted on
China is in the midst of a major overhaul of laws and regulations that govern the financial system to ensure they keep up with the significant changes that have taken place over the past decade. The law governing the People’s Bank of China is being revised, and new laws or regulations in areas such as futures and derivatives, foreign-funded banks and data protection have been promulgated or are in the works.
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CBIRC highlights achievements in development of property & casualty insurance sector

Although China’s property insurance & casualty industry has experienced significant growth over the past decade, policymakers want to see the sector play a bigger role in supporting the economy and national development goals. As China seeks to move its economy up the value chain, transitioning from a period of fast-paced growth to higher-quality growth, property insurance will be critical to backstopping hard won economic gains.
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