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PBoC issues rules governing hiring of senior executives at financial holding companies

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These interim provisions are the latest in a long line of policies aimed at boosting regulatory supervision for companies with operations in financial services, which had hitherto operated with insufficient regulatory oversight. The fact that authorities have been gradually building up the regulatory framework and scrutiny over the appointment of senior personnel is seen as a crucial part of these efforts …
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PBoC to allow Hainan greater yuan convertibility rights as part of package to promote financial liberalization in the province

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The Hainan FTP is a pet project of Xi Jinping, who is reported to have personally designed, arranged, and promoted it and called on the government to support “daring reforms and innovation.” As a result, the project is as much a political task as an economic one and all ministries and agencies are compiling action plans related to the areas under their jurisdiction …
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CBIRC officially abolishes foreign ownership caps for all insurers

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On March 19, the China Banking and Insurance Regulatory Commission (CBIRC) released the final version of the “Decision to Amend the Implementation Details for the Administrative Rules for Foreign-Invested Insurance Companies in the People’s Republic of China.” The decision lifts restrictions on…
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