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Regulation & Policy - All Articles
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Onshore perps still out of reach for small Chinese banks
Bank of China’s Rmb40bn ($5.9bn) perpetual bond has opened up a possible path for other banks with similar funding needs, but smaller banks may still find it hard to attract investors, said analysts and bankers this week. Widening the scope of perpetual bonds so that insurance companies can purchase them will be key to solving the problem.
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China policy round-up: PBoC rolls out first TMLF, Shanghai tech board sees progress, central bank offers bills swap
In this round-up, the People’s Bank of China launched the first targeted medium-term lending facility (TMLF), a central committee for deepening reform signed off on Shanghai tech board launch, and the central bank set up bills swap to support banks’ perpetual bonds.
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China policy round-up: next round of trade talks scheduled, PBoC deputy governor discusses Panda bonds proceeds, Bank of China to issue first perp
In this round-up, Liu He will visit the US at the end of this month, Pan Gongsheng spoke at the China Bond Market International Forum and Bank of China plans to issue the first perpetual bonds in the domestic market.
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Foreign rating agencies walk tightrope in China
The big three international rating agencies have all registered with Chinese regulators so they can join the country’s onshore credit rating industry, but none have started operations yet. Rebecca Feng investigates the reasons behind the holdup.
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QFII quota doubled ahead of index inclusions
China’s State Administration of Foreign Exchange expanded the total available quota for the Qualified Foreign Institutional Investor (QFII) scheme, one of the country’s longest-standing capital markets access programmes. The move came before the upcoming further inclusions of Chinese securities in global investment indices.
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China policy round-up: US-China three-day trade talks show seriousness, premier Li meets Elon Musk, small enterprises to enjoy lower tax rates
In this round-up, US-China extended the previously planned two-day trade talk to a third day, Li Keqiang met Tesla’s Elon Musk, and the state council rolled out lower tax rates for small and low profit businesses.
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Stricter rules coming for Chinese rating industry
The National Association of Financial Market Institutional Investors (Nafmii) is gearing up to unveil new standards for the Chinese rating industry this year.
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The week in renminbi: PBoC cuts RRR for banks, Shanghai-London Stock Connect further delayed, premier Li pays big banks a visit
In this round-up, People’s Bank of China (PBoC) cut the reserve requirement ratio (RRR) by 100bp, Shanghai-London Stock Connect likely postponed to late January, and Li Keqiang encourages big commercial banks to support the private sector.
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China market and policy round-up: US and China set date for trade talks, PBoC tries to boost SME lending, Nafmii gets a new head
In this round-up, US and China agreed to hold trade talks in Beijing early next week, the central bank loosened the definition of small and medium enterprises (SMEs), and National Association of Financial Market Institutional Investors (Nafmii) appointed a new party chief.
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Holiday round-up: China PMI falls in December, global RMB FX reserves drop, US-China play nice
In the first round-up of 2019, China’s economy slowed further in December, renminbi-denominated central bank reserves fell in the third quarter of last year, and the US and China exchanged some positive signals on trade.
