Dear USCBC members,
China’s financial regulators have their work cut out for them. Against the backdrop of a three-year bear market, a backlog of initial public offerings (IPOs), and an ongoing anti-corruption campaign, Chinese policymakers are pushing ahead with industry reforms to improve the quality and openness of China’s capital markets.
Back in April, the State Council released its “national nine articles,” a transformative policy document expected to usher in...
Dear USCBC members interested in financial services,
Over the last couple of months, there have been several noteworthy policy and regulatory updates affecting China’s financial services sector. In July, the CSRC released rules that seek to implement a new system for futures and derivatives trading while the State Council revised regulations to increase supervision of private equity. In addition, the securities regulator announced its mid-year work priorities and proposed reforms...
Dear USCBC members interested in financial services,
Over the last couple of months, there have been several policy and regulatory updates in China’s financial services sector. Most importantly, today a new financial administration was announced at the National People’s Congress. USCBC will continue to monitor these important changes as more details emerge. If you have any questions about these developments, please feel free to reach out to me.
Best,
Annie Whitehurst ...Dear USCBC members interested in financial services,
Over the last couple of months, there have been several policy and regulatory updates in China’s financial services sector. If you have any questions about these developments, please feel free to reach out to me—I am happy to discuss further.
Best,
Annie Whitehurst Manager,...Dear USCBC members interested in financial services,
Over the last couple of months, there have been several updates in China’s financial services sector. I have compiled the most important and relevant updates below. If you have any questions about these developments, please feel free to reach out to me—I am happy to discuss further.
Best, Annie Whitehurst Manager, Business Advisory Services [email protected]Overview:
China opened exchange bond market to...Dear USCBC members interested in financial services,
Over the last couple of months, there have been several updates in China’s financial services industry. Below, we have compiled these updates. If you have any questions or concerns, please kindly reach out to Annie Whitehurst ([email protected]).
Overview:
State Council issued opinions on promoting the development of individual pensions NPCSC passed futures and derivatives law New draft law emphasizes financial...Dear USCBC members interested in financial services,
Over the past few months, there have been several developments regarding China’s financial services industry. These updates include the People’s Bank of China’s priorities for the year and developments related to fintech, information technology risk management for the banking and insurance industry, the digital transformation of banking and insurance institutions, and the newly established Beijing Stock Exchange.
Should you...
Dear USCBC members interested in financial services:
Over the last few months, Chinese regulators have clarified their priorities for the second half of 2021, continued to crack down on online financial services operations, and issued updates on China’s domestic exchanges. Their upcoming goals for the financial services sector include opening new financing channels for innovative companies in strategic sectors, offering targeted financial support to small- and medium-sized enterprises...
Dear USCBC members interested in financial services:
Over the past few months, China’s financial regulators have continued issuing priorities for 2021 and the 14th Five-Year Plan (FYP). Areas of focus include regulating fintech platforms, disposing of non-performing loans (NPLs), replenishing capital of small banks, and channeling more financing toward strategic sectors and green initiatives. In addition to setting priorities, regulators have also issued new regulations on credit...
Dear USCBC members interested in financial services:
Over the past month, China has begun setting longer-term priorities for financial services. In anticipation of the next Five-Year Plan, regulators have issued reports and convened international forums to discuss the sector’s most significant challenges and opportunities. Areas of focus include regulating fintech conglomerates like financial services companies, protecting personal information and data, improving the quality of...
Dear USCBC members interested in financial services:
In spite of escalating bilateral tension and talk of decoupling, China continues to open and reform its financial sector. Companies in insurance, fund management, and fund custody services have received licenses on a seemingly expedited timeline—AIA, Blackrock, and Citibank applied for licenses in April and received them by August. Chinese regulators have also broadened the list of financial products available to foreign...
Dear USCBC members interested in financial services:
Over the past few months, China has begun satisfying commitments under the US-China Phase One agreement and has issued licenses for majority and wholly foreign-owned businesses to entities in electronic payments, futures, securities, credit rating, and mutual funds. In insurance, Chinese officials have expressed to USCBC that equity caps in life, health, and pension insurance have been lifted, and that they plan to revise existing...
Dear USCBC members interested in financial services:
China has continued to accelerate its progress in opening up its financial services industry to foreign companies. Implementation of its commitments on financial openings made earlier this year, such as the lifting of foreign equity caps in life insurance and equal treatment in administrative licensing, appear to have been expedited in recent weeks. China is also adding stronger language on trade secret protection in its financial...
Dear USCBC members interested in financial services,
In light of the “phase one” deal that might be reached later this year, we are releasing a special edition industry update on what to expect on financial services openings that might be included in the deal and the direction of reform and opening in financial services China has been pursuing recently. We hope this update is useful to your business decision-making, and as always, please do not hesitate to reach out.
Best,
...USCBC members interested in financial services:
The months of July and August have seen significant developments in China’s financial services industry, most of which are positive for further liberalization and better regulation of this sector.
The escalation of the US-China trade dispute has not slowed down China’s pace in opening up its financial services sector. Or at least that is the narrative portrayed by the Chinese government. US companies continue to push forward in...
Dear USCBC members interested in financial services,
Since early May, market openings in China’s financial services industry have been slow, likely due to the impasse in the trade talks, but there have been a few developments that have increased market access for US financial services companies. No implementing regulations on the 12 opening measures for China’s financial services industry announced on May 1 have come out yet, but financial services regulatory...
USCBC members interested in financial services,
The month of April has seen some exciting developments in China’s financial services industry, most likely having been spurred by the trade talks. China’s financial regulators approved more applications from foreign financial services companies and hinted at more structural openings on the horizon. Most of the buzz appears to revolve around anticipated openings in China’s asset management, heightened by companies’ preparations to expand...
Dear USCBC members interested in financial services,
In our regular review of news and policy announcements, we want to share the below updates.
The month of March saw developments in China focused on easing of cross-border capital flows, approving a few more joint ventures in electronic payments and pension insurance, and integrating advanced technologies into the supervision of insurance market. To better manage the balance between preventing financial risks and maintaining...
Dear USCBC members interested in financial services,
In our regular review of news and policy announcements, we want to share the below updates.
The month of February saw developments in China focused on expanding its capital markets to global investors, building the guidelines for China’s new tech innovation board, and adjusting the top personnel and structures of its financial regulatory institutions. In the midst of the US-China trade negotiations, China granted a few...
Dear USCBC members interested in financial services:
In our regular review of news and policy announcements, we want to share the below updates.
The end of 2018 and the beginning of 2019 saw developments in China focused on market openings, domestic financial reforms, policy guidance from various financial regulatory authorities, and more support to China’s domestic economy. China has signed an agreement with Germany to equal the playing field between...