Hong Kong Stock Connect expands by nearly 40%
Alex Yang
This is financial opening with Chinese characteristics…
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Fund Management
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CSRC issues interim rules for “important” money market funds
Jibingxin Han
These rules are part of a broader campaign by China’s financial regulators to clean up the capital markets and reduce systemic risk. They are also an effort to bring MMFs …
PBoC extends CNY trading hours
More than 60 offshore banks and other financial institutions are CFETS members. Longer trading hours mean they can trade CNY – rather than offshore CNH – at more convenient times…
Flurry of regulatory measures kicks off private pensions pilot scheme
Developing a robust private retirement savings ecosystem checks multiple policy boxes. It will
State-owned securities firms reportedly planning to limit executive compensation
Tianyu Zhu
It’s unclear whether or not these moves are directly related to Common Prosperity – not least because it’s still unclear what exactly Common Prosperity is meant to look like in practice. However, whatever the underlying rationale, there appears to be an incipient clampdown on financial industry compensation brewing.
CBIRC releases draft rules on internal controls for wealth management companies
Containing financial risk has been a primary focus for Beijing since Xi Jinping designated it as one of his “three tough battles” in 2017 – along with…
March foreign financial institution approvals and specific financial opening developments
On February 21, Schroders announced that it had received permission from Chinese regulators to set up a majority-owned wealth management joint venture with state-owned Bank of Communications.
Beijing expands QFLP program
Trivium
The expansion of Beijing’s QFLP program is part of a broader push to open up the services sector in Beijing. In September 2020, the State Council approved a plan, formulated by the municipal government and the Ministry of Commerce, to set up demonstration zones and pilot programs to further open the capital’s services sector. The plan included liberalizing the scope of public market investment through the QFLP pilot program…