China

Foreign institutional investors permitted to participate in the interbank bond market are also allowed to participate in both the SSE and SZSE's exchange bond markets

The regulations, effective on 1 July, will support the establishment of evaluation, identification and classification standards for green finance products and projects.

Several PBOC and CBIRC officials have been named in corruption investigations. A former ICBC executive has pleaded guilty on bribery charges.

Longer trading hours will help meet the rising global demand for yuan transactions, narrow the onshore-offshore spread, and help Chinese investors hedge currency risk.

Hong Kong's Financial Reporting Council already has 13 cases involving mainland audit work papers, two of which have been concluded.

The relevant rules and operational and regulatory arrangements have been finalised and technical systems have been put in place.

Under a new scheme, private pension funds can invest in mutual funds. Initially, only mutual funds with at least CNY 50 million of assets are eligible.

The US plans to contribute USD 200 billion to the new initiative, while the rest of the G7 will contribute another USD 400 billion.

Domestic staff of overseas crypto exchanges and others engaging in crypto-related business will be investigated.

Goldman Sachs ICBC Wealth Management, set up in May last year, becomes the fourth Sino-foreign wealth management JV approved to commence operations.