Banks and insurers are instructed to have their green finance management systems and procedures in place by 1 June 2023.
The CSRC and CBIRC are jointly cracking down on related-party and affiliated transactions involving listed companies and finance companies.
The measures include an emergency self-service ‘kill switch’, enhancements to fraud surveillance systems, and additional customer confirmations.
New rules were issued to facilitate the issuance of affordable rental housing REITs, and to enable already-listed infrastructure REITs to acquire more assets.
New guidelines clarify the due diligence obligations of sponsors. The CSRC has also set out five situations that would trigger on-site inspections of internal controls.
Banks will be asked to renew SME loans; asset managers are asked to set up global or regional investment management centres in Shanghai.
Banks are directed to expand lending to SMEs amid concerns that China could struggle to record positive growth in the current quarter.
The measures include support for IPO applicants, listing fee waivers, and regulatory support for securities firms.
The rules clarify requirements for regulatory statistics work to be centrally managed within FIs and for data quality to be improved.
The rules will address differences in how banks have implemented the ECL method, and prevent its use as a "tool" to adjust profits.