Financial regulator urges banks, insurers to step up efforts to support consumption
Xiaorui Zhang
The potential for China’s banks to boost consumption is limited. Many households are financially overstretched and reluctant to increase borrowing…
Xiaorui Zhang
55 posts
NFRA relaxes restrictions on foreign investment in AMCs
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SAFE to expand cross-border forex management pilot
A gradual opening of the capital account hits two of China’s longer-term ambitions. It furthers the internationalization of the RMB and strengthens financing avenues for China’s tech self-reliance drive…
NFRA releases notice to expand scope of tax-deductible health insurance products
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NAFMII announces first batch of sci-tech innovation hybrid securities
Realizing tech self-reliance hinges in large part on money, and leveraging the capital markets to juice innovation is crucial…
PBoC, SAFE raise macroprudential adjustment parameter
Companies and banks will likely be hesitant to borrow foreign currency with USD rates so high, so the MAP adjustment in and of itself probably won’t impact the exchange rate much, but it’s another strong signal that the PBoC is unhappy with the pace of depreciation…
MIIT, NFRA release opinions on cybersecurity insurance
Cybersecurity is likely to be the fastest growing segment of China’s insurance industry over the next few years, as weak network security becomes one of the biggest risks to individuals, companies, and the economy more broadly…
Green Finance Committee relabels bonds in alignment with joint EU standards
Applying a harmonized green classification standard consistent with EU standards will open the door for more international investment by reducing the costs of verification and due diligence through increasing the interoperability and alignment of taxonomies…
Former Everbright chairman becomes latest financial official to fall under CCDI investigation
Financial scandals at the highest levels of state-backed firms are a particular concern for regulators, given their potential to affect social stability and the financial system. Regulators also want to ensure that capital meant to finance China’s industrial and tech development ambitions doesn’t wind up in the pockets of corrupt officials…
State Council releases high-level regulations for supervision of PE investment funds
Many of the rules in this document have been in place on a slightly less formal basis for years, so the State Council regulation itself won’t lead to major changes in how the industry functions, but it puts the industry on a firmer legal footing and carries more weight. The CSRC and the NDRC are expected to formulate significantly more detailed regulations and policies aimed at the industry in the near to medium-term…