Dear USCBC members interested in financial services:
In our regular review of news and policy announcements, we want to share the below updates. Recent developments in China’s financial sector have focused on opening up to foreign financial services companies, reforming China’s stock market, and increasing the strength and stability of China’s financial system. Recent policy and news developments covered in this update:
CBIRC allows Allianz to set up a...
Dear USCBC members interested in financial services:
In our regular review of news and policy announcements, we wanted to share the below updates. Recent developments in China’s financial sector have focused on providing liquidity support to the stock market, providing assurance to market investors about the strength of China’s economy, supporting China’s private economy, increasing the diversity of financial instruments in China’s bond market, speeding up the process of financial...
Dear USCBC members interested in financial services:
In our regular review of news and policy announcements, we wanted to share the below updates. Recent developments in China’s financial sector have focused on reforms of China’s credit rating industry and bond market, yuan internationalization, implementation of the central government’s financial services opening measures at the local government level, opening up of China’s futures and stock markets, and policy support for China’s...
Dear USCBC members interested in financial services:
In our regular review of news and policy announcements, we wanted to share the below updates. The month of August has seen developments in China’s financial sector that relate to market opening, restructuring of the regulatory system, government announcements of future priorities for financial policy, deleveraging, and currency support measures. Please see below for the recent policy and news developments covered in this update:...
Dear USCBC members interested in financial services:
In our regular review of policies related to financial services news, we wanted to share the below policy and regulatory updates. The past couple of months have seen developments in China’s financial sector that relate to management of cross-border financial network and information service, market opening, deleveraging, and liquidity support. Please see below for the recent policy and news developments covered in this update:
...The equity cap for foreign insurance companies in Chinese joint ventures (JVs) is set to increase to 51% from 50%, according to draft measures released for comment yesterday by China’s insurance regulator. Last month at the Bo’ao Forum, China’s central bank governor Yi Gang announced that this liberalization would occur by the end of June, and that ownership restrictions would be removed entirely in three years. The draft measures will be open for public comment until June 29, 2018....
CSRC Draft Rules Raise Cap on Foreign Ownership in Securities Firms and Brokerages; CIRC Amends Rules for Insurance Shareholders
CSRC Solicits Comments on Draft Regulations to Allow Foreign Financial Institutions to Control Chinese Securities FirmsOn March 9, the China Securities Regulatory Commission issued a draft for comment of “Administrative Measures for Foreign-Invested Securities Companies.” The draft rules appear to raise the cap on foreign financial institutions’...
CBRC Cuts Red Tape for Foreign Banks; CIRC takes over Anbang Insurance as Authorities Step up Efforts to Address Financial Risks
As part of USCBC’s regular monitoring of government and press sources, we are recapping February financial sector news and policy developments that may be of interest to you, with summaries of Chinese and English language announcements and reports linked below. As always, if you have questions or comments on these or other developments, please do not...
Touting Focus on Financial Sector Reforms, China Promises Financial Services Sector Openings; Announces Tighter Oversight of Policy and Commercial Banks, IPOs, Cash Loans
As part of USCBC’s regular monitoring of government and press sources, we are recapping recent financial sector news and policy developments that may be of interest to you, with summaries of Chinese and English language announcements and reports linked below. As always, if you have questions or comments on these or...
Dear USCBC Members following the financial services sector:
New draft regulations released by the China Banking Regulatory Commission (CBRC) increase scrutiny of investors in commercial banks by requiring investors seeking to control more than five percent of shares in a Chinese commercial bank to register with PBOC for approval. The draft rules also outline a number of strict requirements aimed at cracking down on opaque ownership structures. These include:
Dear USCBC members interested in the Financial Services Industry:
Our regular monitoring of government and press sources identified the following stories as relevant:
S&P Downgrades China's Credit Rating
PBOC Publishes Draft Package for Financial Market Openings
CBRC Seeking Comments on State Development Bank Management
CSRC Further Regulates Investment-Banking Industry
CIRC Will Liberalize Non-Life Insurance...
Dear USCBC members interested in the Financial Services industry:
Our regular monitoring of Chinese government and media sources identified the following policy updates as relevant:
CBRC Seeks Opinions on Two Sets of Banking Supervision Measures
CBRC Tightens Regulation of Trust Industry
CBRC Seeks Opinions on Illegal Fundraising Regulations
CSRC Regulates Open Securities Investment Funds
NDRC Issues Notice on...
Dear USCBC members interested in the Financial Services Industry:
Our regular monitoring of Chinese media and government sources identified the following stories as relevant:
State Council Promotes Foreign Investment in Two New Notices
State Council Circulates Report on Severity of Local Debt
SAFE Crackdown on Fraudulent Information in the Insurance Sector
SAFE Requires Banks to Submit Overseas Transaction Information
CIRC Issues Insurance...
Dear USCBC members interested in the Financial Services Industry:
We recently came across a number of policy and news developments related to financial services as a part of USCBC’s regular monitoring of Chinese government and press sources.
CED Concludes, US and China Agree to Resume BIT Negotiations
President Xi Jinping Sets Reform Agenda at the Fifth Financial Work Conference
China Establishes a Central Financial Stability and Development Commission
...
Dear USCBC members interested in the Financial Services Industry:
The twice in a decade, closed-doors National Financial Work Conference (NFWC) and economic work meetings of Chinese financial leadership are expected to be held during the third week of July.
This year’s NFWC conference topic is strengthening supervision of the financial sector. While there have been periodic rumors that China’s finance ministries would be merged into a single “super regulator,” media reports ...
Dear USCBC members interested in the Financial Services Industry:
We recently came across a number of policy and news developments related to financial services as a part of USCBC’s regular monitoring of Chinese government and press sources.
MOFCOM Simplifying Foreign Investment Reviews in Select Provinces
SAFE Seeks Public Opinions on Trading Rules for “North Bond Connect”
SAFE Issues Notice on International Use of Bank Cards
Chinese Foreign...
Dear member companies interested in financial services,
100-day plan negotiation outcomes were announced by Vice Minister Zhu Guangyao and Vice Minister Yu Jianhua at a joint press conference by the Ministry of Finance and Ministry of Commerce. On May 12, the State Council’s Information Office and the U.S. Department of Treasury released corresponding Chinese and English-language versions of the 10 point policies negotiated by Vice Minister Zhu Guangyao and US...
Dear USCBC members interested in the Financial Services Industry:
We recently came across a number of policy and news developments related to financial services as a part of USCBC’s regular monitoring of Chinese government and press sources.
President Xi Jinping calls for stricter regulation of capital markets
NDRC issues notice renewing State Council’s commitment to supply-side economics
PBOC easing restrictions...
Dear USCBC members interested in the financial services industry:
I’d like to pass along several recent developments that we thought may be of interest to you. The materials listed below have been pulled from Chinese media sources...
Dear USCBC members:
With LiangHui wrapping up in Beijing, Chinese markets showed a considerable amount of growth in the first quarter of 2017, outpacing last year's national statistics by ten percent. The government also released...