China Everbright Group gets new vice chairman
Trivium
Wu has a long background in finance. He has worked in high-level positions at the China Securities Regulatory Commission (CSRC), where he was driving the …
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Daiwa applies to open foreign-controlled securities JV
The establishment of the JV will mark Daiwa’s return to the China market after having exited in 2014 when it terminated its previous JV partnership with …
FTSE Russell decides not to include Chinese bonds
Despite the wider trend of inclusion for Chinese bonds in global indexes and Beijing’s push toward financial opening, FTSE Russell’s rejection of China’s government bonds suggests that …
MoF issues new finance supervision rules
Better supervision of financial firms is a major element of the wider de-risking effort being undertaken by Chinese regulators. These rules are designed to…
MoF issues new accounting rules
In yet another effort to control risk in the financial system, Chinese regulators are returning to accounting fundamentals to ensure that financial records are accurate reflections of economic reality and that capital…
PBoC chief says China is not in a hurry to conduct monetary easing
Yi’s comments are consistent with what regulators have said all year – that there will be no significant, or “flood-like,” stimulus for the economy. This means that the issues the economy faces will not …
Wealth management subsidiary of China Everbright Bank gets approval to commence operation
Given the fast-changing regulatory space around the asset management industry in China, foreign banks should closely monitor the progress of the various new domestic asset management subsidiaries to …
CICC teams up with Tencent in RMB 500 million fintech venture
As we have covered in several recent monitors, tie-ups between China’s big tech companies and its financial institutions are proliferating rapidly. Foreign financial institutions will need to…
Standard Chartered completes first offshore e-wallet cross-border RMB direct debit settlement transaction
Many foreign banks in China are naturally looking to increase their presence in cross-border payment facilitation – especially for e-payments. HSBC should ensure…
Agricultural Bank of China appoints new head
Newly appointed Zhang is filling a yearlong vacancy left by former ABC president Zhao Huan, who was appointed president…