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GC Asia
Regulation & Policy - All Articles
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China policy round-up: Pompeo, Trump threaten Beijing over HK security law, USD/CNH surges
In this round-up, tensions between the US and China rise dramatically after China says it would impose a national security law on Hong Kong SAR, and the USD/CNH exchange rate reacts strongly to the latest developments.
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China lowers bar for insurers to buy banks’ perps
The China Banking and Insurance Regulatory Commission (CBIRC) has scrapped a number of restrictions hampering the country's insurers from investing in perpetual bonds sold by smaller banks.
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The week in review: Xi explains GDP growth rationale, regulators offer details on stimulus package, China’s foreign minister issues warning to the US
In this round-up, China’s top government officials, including president Xi Jinping, discuss key economic targets and a fiscal stimulus package, and foreign minister Wang Yi warns the US against a ‘new cold war’.
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Two Sessions special: China skips annual GDP target but widens fiscal deficit, plans Covid-19 special treasury bond
In this special round-up on China’s annual Two Sessions parliamentary meeting, the government does not set a growth target for 2020 but raises the budget deficit to at least 3.6% of GDP. It also plans to issue Rmb1tr ($140bn) of special ‘anti-pandemic’ treasury bonds.
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Nafmii warns banks on razor-thin fees
One of China’s most powerful bond market regulators has issued a warning to Industrial Bank and Citic Securities, after the two banks accepted an underwriting fee the regulator said was “far below” market standards.
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The week in review: CSRC chairman vows ‘zero tolerance’ on fraud, central bank governor reviews Covid-19 monetary policies
In this round-up, the chairman of China’s top securities regulator says the country will step up on its crackdown of fraudulent behaviour in the financial market, and the governor of the People’s Bank of China (PBoC) talks about policies to overcome the impact of the pandemic.
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China policy round-up: China-US tensions escalate as pension fund stopped from buying Mainland stocks, Greater Bay Area to open up
In this round-up, the relationship between the US and China deteriorates, the US warns its pension fund against investing in Chinese equities, and Mainland regulators vow to develop the financial markets of the Greater Bay Area.
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China markets round-up: April credit data beats consensus, CPI and PPI growths fall, PBoC resumes RMB bill issuance
In this round-up, China releases better-than-expected credit data for April, both consumer and producer inflation numbers ease onshore, and the central bank sells Rmb30bn ($4.23bn) of renminbi bills in Hong Kong.
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China Reits are not for all
China has taken a long-awaited step towards opening its real estate investment trust (Reit) market, publishing rules for a pilot programme. The regulators are understandably starting small, but the guidelines don’t do enough for companies that need to list Reits the most.
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The week in review: CBIRC fines trio, central bank talks up LPR reform outcome, local government bond issuance slows
In this round-up, the Chinese banking and insurance regulator fines three commercial lenders, the People’s Bank of China reviews the implementation of its monetary policy in the first quarter, and the pace of local governments selling bonds moderates in April.
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China reforms QFII, RQFII to boost duo’s appeal
China has made some much-needed changes to rules for foreign investors using the Qualified Foreign Institutional Investor scheme and its renminbi sister scheme, reviving some of the appeal of these access programmes.
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China policy round-up: US continues Covid-19 blame game, top trade officials resume talks
In this round-up, the US refuses to back down from accusing China of covering up the origins of the Covid-19 pandemic, but despite the rising tensions, top trade officials from the countries spoke on Friday morning.
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China launches public Reit rules after decade-long wait
The China Securities Regulatory Commission and the National Development and Reform Commission have jointly announced a long-awaited pilot programme for real estate investment trusts to promote economic growth. The trial allows the listing of Reits backed by infrastructure projects.
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The week in review: China sets date for Two Sessions, PMI declines in April, Mengshang Bank up and running
In this round-up, China says it will hold its most high-profile political meeting in May after a two-month delay due to the Covid-19 pandemic, both the official and Caixin manufacturing Purchasing Managers’ Index (PMI) slide in April, and the successor to failed Baoshang Bank launches.
