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CBIRC releases measures to evaluate the consumer protection systems of banks and insurers

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Posted on July 27, 2021May 13, 2022

As the government focuses on tamping down financial risk, consumer protection has become a top priority. Regulators have become increasingly concerned about mis-selling, misleading marketing, and failure to resolve customer complaints…

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PBoC moves to standardize, centralize bond lending

Trivium
Posted on July 27, 2021May 15, 2022

China’s interbank bond market has grown exponentially over the past few years and is now the world’s second largest, fueled by the country’s huge appetite for debt and the opening up of the market to foreign investors and financial institutions. Yet regulation has failed to keep up or to respond to the growing demands from investors for more hedging tools and a more structured and formal system for bond lending and borrowing.

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CBIRC punishes banks for shadow banking-related offences

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Posted on July 23, 2021May 13, 2022

Although regulators have claimed success in their campaign to rein in shadow banking, which began in 2017, they are still battling to stop activity that breaks the rules and that includes regular inspections of financial institutions…

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PBoC reportedly orders Internet platforms to route credit data through credit reporting agencies

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Posted on July 23, 2021May 15, 2022

This order appears to be a warning to Internet platforms to step into line with the PBoC’s new requirements and to reinforce the message given in a meeting with 13 fintech companies in April…

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Regulators order cuts to payment processing fees for small firms

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Posted on July 22, 2021May 13, 2022

The economic fallout from the COVID-19 pandemic has made supporting small businesses a top priority for policymakers as they are seen as a critical factor to sustained economic growth…

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Banks gear up for GBA Wealth Management Connect

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Posted on July 22, 2021May 13, 2022

Banks with a significant presence in the GBA are eager to be early movers as the region’s financial integration gains steam…

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Top credit ratings agency flagged again by regulators

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Posted on July 21, 2021May 15, 2022

As Beijing continues its campaign to derisk the financial sector and default rates rise, ratings agencies have been the subject of much tighter regulatory scrutiny…

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PBoC calls on banks to increase lending to small companies

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Posted on July 15, 2021May 15, 2022

China’s recovery from the COVID-19 pandemic and the economy’s ability to continue to grow steadily depend in large part on the health and prosperity of MSMEs, which the government says provide most of the country’s jobs…

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CBIRC issues interim measures for recovery and resolution plans for financial institutions

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Posted on July 9, 2021May 13, 2022

China’s financial authorities are working hard to upgrade the country’s regulatory framework for financial institutions and to comply with international standards and regulations…

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CBIRC issues rules to improve the quality of directors and supervisors at banks and insurance companies

Trivium
Posted on June 28, 2021May 13, 2022

The state takeover and restructuring of Anbang Insurance Group Co. Ltd. in 2018 and Baoshang Bank Co. Ltd. in 2019 exposed serious shortcomings in corporate governance at China’s financial institutions that had the potential to destabilize the domestic financial system. Although regulators have known for years that weak corporate governance has been a major contributor to the string of scandals and fraud committed by both publicly listed, state-owned and private companies and financial institutions, these two high-profile rescues were a watershed moment…

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