China

CBIRC guidelines require Chinese banks to strengthen compliance management at overseas branches in relation to AML/CTF, tax evasion, sanctions, consumer protection and cybersecurity.

The two countries will promote depository receipts, build an offshore market for A-share index derivatives in Frankfurt, and improve access for banks and insurers in either market.

The SSE and SZSE have extended the repurchase period for pledged shares to over three years and loosened restrictions on the number of shares that can be pledged.

Bank of China's perpetual bond issuance is likely to see participation from foreign investors as China pushes to further open up its bond markets.

Online financial institutions including those engaged in online lending, equity crowdfunding, fund sales and consumer finance are required to register on the platform by 31 January.

China will double the quota from the current $150bn, despite having only granted $101.1bn in quotas to foreign investors as of December.

Companies will be required to verify user data based on national IDs and phone numbers, effectively removing the anonymity of blockchainin the country.

Citi is looking to form its own majority-owned securities joint venture in China following new rules allowing foreign firms to acquire controlling stakes in such partnerships.

The relaxation of account opening policies will enable companies to open bank accounts in a few days rather than wait months for central bank approval.

The new rules would prohibit firms from providing consulting services to companies they rate and require disclosures of any conflicts of interests.