CBIRC releases draft revisions to banking supervision law

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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PBoC, SAFE share their takeaways from Party Congress

While that last point is incredibly vague, it hints that the regulators are likely considering new measures to bolster developers through the stock and bond markets. We also suspect the authorities will look to further streamline and consolidate China’s byzantine bond market.
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Shenzhen issues the most detailed environmental information disclosure requirements for financial institutions yet

Shenzhen’s guidelines provide an unprecedented degree of specificity that builds on the Guidelines for Financial Institutions’ Environmental Information Disclosure, signaling the implementation of China’s environmental and green finance information disclosure system after putting in place uniform standards across the financial sector last year.
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PBoC releases RMB internationalization report

Over the last couple of years, Beijing has elevated RMB internationalization as a policy goal. It’s slow going, but a regular flow of supportive reforms – as well as growing international RMB use fueled by Western sanctions on Russia over its invasion of Ukraine – will ensure further progress.
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PBoC releases derisking report

Much of the corruption, opacity, and shoddy credit evaluation that has plagued China’s financial industry for decades has indeed been substantially ameliorated in recent years. And it’s high time. As growth slows, it’ll become harder to hide financial risks.
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