New China Life appoints new CEO
Trivium
On June 28, New China Life Insurance Co. Ltd. announced that Li Quan will take over as CEO. The position had been vacant since former CEO Wan Feng resigned…
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Nansha processes first cross-border mortgage
This financing method is expected to improve the capital-raising capabilities of Chinese enterprises by eliminating the transfer fee required when transferring capital raised through domestic mortgages…
Citigroup announces “digital transformation” in China
Citi China also plans to cooperate with a third-party platform to offer lending services. Buckley says that Citi has partnered with…
NIBFC establishes market mechanism for repo defaults
Some of the specific details of the new pledged repo default mechanism remain unclear, but in general the goal of the blind auction mechanism is to ensure that larger banks continue lending to smaller banks. This is part of the broader regulatory reaction to…
NDRC announces intention for further opening
Authorities remain desperate to change the narrative that China is not open for business – especially given elevated tensions with the US. Efforts to change this narrative are not just about optics…
UBS takes heat for “Chinese pig” comment
All foreign financial institutions operating in China should take note of this episode, as it underscores the specific type of reputational damage that can…
ICBC Asia launches Greater Bay Area Premier Banking Services
The strategies that China’s domestic financial institutions are using to grow their market footprints within the GBA should be closely tracked by all foreign financial institutions. Chinese banks – and other sectors of the financial industry – are being…
Both large and small Chinese banks continue to raise capital through share issuance
Capital needs throughout the domestic banking system remain acute. For larger banks, the challenge continues to be…
Ant Financial teams up with Vanguard
Ant Financial is looking to increase its footprint in all sorts of financial services – both inside and outside China. Given the company’s domestic reach, all foreign financial institutions should…
Hong Kong accounting regulator and MoF increase cooperation
While this move is related to ongoing efforts to integrate the GBA, the opening of audit books to Hong Kong companies should also been seen in a global context. Foreign auditing firms have been…