Financial Institutions

China’s New Financial Administration Is a Coordinator, Not a Regulator, Ex-Central Bank Executive Says

China’s New Financial Administration Is a Coordinator, Not a Regulator, Ex-Central Bank Executive Says

The main function of the newly established Financial Stability and Development Committee under China’s cabinet is coordination, not regulation, Zhu…

Nov 17, 2017
Tang Shihua
All Payment Business to be Subjected to Approval and Supervision, PBOC Deputy Governor Says

All Payment Business to be Subjected to Approval and Supervision, PBOC Deputy Governor Says

All Payment operations, whether state-owned, privately-owned or foreign-funded will be subject to approval and supervision mechanisms, said Fan Yifei, deputy…

Nov 16, 2017
Tang Shihua
Health Insurance Premiums Fall 82% in First Nine Months, Forcing Insurers to Seek Alternative Products

Health Insurance Premiums Fall 82% in First Nine Months, Forcing Insurers to Seek Alternative Products

In the first three quarters of this year, the direct premium income of health insurance business grew only 4.45 percent…

Nov 16, 2017
Liao Shumin
Canadian Asset Management Firm Manulife Investment Starts Operations in Shanghai

Canadian Asset Management Firm Manulife Investment Starts Operations in Shanghai

The Canadian asset management firm Manulife Financial Corporation's [HKG:0954] (MFC) wholly-owned company in Shanghai officially started operations. The company was…

Nov 16, 2017
Chen Juan
UBS Group to Continue to Increase Shareholdings in UBS Securities Following Relaxing of Investment Restrictions, Senior Executive Says

UBS Group to Continue to Increase Shareholdings in UBS Securities Following Relaxing of Investment Restrictions, Senior Executive Says

UBS Group AG [VTX:UBSG] will look to increase its shareholdings in its Chinese investment bank and brokerage affiliate UBS Securities…

Nov 13, 2017
Chen Juan
‘China Will Significantly Ease Market Access to Financial Sector,’ Vice Foreign Minister Says

‘China Will Significantly Ease Market Access to Financial Sector,’ Vice Foreign Minister Says

US President Donald Trump and his Chinese counterpart, Xi Jinping, have reached agreements on various matters during the former’s state visit to China.

Nov 10, 2017
Xu Wei
CSRC Sub-Committee’s Low IPO Approval Rate Puts Pressure on Investment Banks

CSRC Sub-Committee’s Low IPO Approval Rate Puts Pressure on Investment Banks

The China Securities Regulatory Commission sub-committee in charge of reviewing initial public offerings has approved 56 percent of A-share IPOs…

Nov 10, 2017
Dou Shicong
China’s Online P2P Lending Continues Decline Amid Tightened Supervision

China’s Online P2P Lending Continues Decline Amid Tightened Supervision

China’s peer-to-peer online lending sector turned over CNY218.39 billion (USD33.06 billion) in October, down 7.12 percent from a month earlier,…

Nov 2, 2017
Liao Shumin
CSRC Orders Hithink RoyalFlush to Take Corrective Action After Selling Funds Illegally

CSRC Orders Hithink RoyalFlush to Take Corrective Action After Selling Funds Illegally

The Zhejiang bureau of the China Securities Regulatory Commission (CSRC) has ordered Hithink RoyalFlush Fund Sales Co., a subsidiary of…

Nov 1, 2017
Liao Shumin
Several CSRC Issue Examiners Are Targets of Investigation for Insiderism in LeTV’s IPO

Several CSRC Issue Examiners Are Targets of Investigation for Insiderism in LeTV’s IPO

Several members of the China Securities Regulatory Commission (CSRC) in charge of examining securities issues are under investigation over a…

Oct 31, 2017
Dou Shicong
All Financial Businesses, Including Cash Loans, Will Be Supervised, PBOC Pledges

All Financial Businesses, Including Cash Loans, Will Be Supervised, PBOC Pledges

In response to recent reports that the swift growth of cash loans cries out for standardization, relevant officials of the…

Oct 30, 2017
Xu Wei
Over 600 Chinese Internet Finance Platforms Ply Bank Depository Business

Over 600 Chinese Internet Finance Platforms Ply Bank Depository Business

Ever more platforms are embarking on the bank depository business as the Chinese Government further tightens its screws on the internet finance industry.

Oct 30, 2017
Dou Shicong

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