China

The fine against Chongqing Fumin Bank was the largest ever against a privately owned bank. Two others were also penalised.

Governor Yi Gang says the PBOC will continue to strengthen its supervision of fintech companies, while also improving policy transparency and predictability.

China's latest 'negative list' removes six industries, while introducing new restrictions for the media, finance and cryptocurrency sectors.

Shenzhen and Guangdong have become the first local government authorities in China to issue RMB-denominated bonds in offshore markets.

Inspection teams will be dispatched to the PBOC, CBIRC, CSRC, stock exchanges, and state-owned banks and asset managers to identify corruption.

The FATF acknowledges work underway to revise China's AML laws to bring DNFBPs into scope and set a foundation for a new beneficial ownership regime.

The rules say the collection of credit information should “not be excessive" and subject to consent and information security requirements. Cross-border use is allowed.

The new guidance warns that companies will be held accountable for misusing algorithms. An algorithm registration system will be established.

China's energy crisis is the result of efforts to reduce domestic coal production to meet climate policy objectives, exacerbated by a ban on imports from Australia.

SEC and CSRC officials have agreed to explore the development and implementation of connectivity initiatives between their markets.