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The exemption of transaction fees is consistent with China’s efforts to promote the internationalization of the RMB. While it would be easy to assume that this is tied to recent geopolitical developments, our read is that this more of a…

A financial war between the US and China looks almost inevitable given the mood in Washington right now – the only question is how intense it will be. At a minimum, the bar will be raised on…

Authorities have moved quickly to put the GBA masterplan into action since the high-level guidance was published. We will continue to see more…

Since the beginning of 2020, banks have been taking a wait-and-see approach toward compliance with the new regulations in the expectation that the deadline for compliance would be extended. As a result, many have made little progress on…

There was little new in the readout of the CSRC’s meeting – these policy initiatives have been mentioned frequently in the past few months. But the regulator is sending a signal that the authorities are determined to…

Historically, the government has refused to allow any kind of class-action lawsuit out of concern that such a mechanism could be used to challenge the authorities. This means that if an individual wants to sue a company or local government for wrongdoing and compensation, they must…

China’s regulators let the insurance sector off the leash in the early 2000s, triggering explosive growth as new upstarts challenged a dull and boring domestic industry and launched innovative but risky products that put their balance sheets at risk. The authorities have been working to…

Financial regulators are working to move China’s capital markets toward a more transparent, rules-based system which means we are increasingly seeing regulations to enforce transparency and a greater focus on protecting individual investors. Information disclosure is a key part of this transformation and given that it is currently…