China

US persons that have not yet divested their holdings in 59 companies that operate in the defence or surveillance technology sectors have until 3 June 2022 to do so.

Key focus areas include promoting a greener financing system, resolving major financial risks, promoting financial opening-up, and cracking down on crypto trading.

China and Hong Kong will promote mutual recognition and assistance in bankruptcy procedures. Mainland judicial practice training will be arranged for Hong Kong legal professionals.

China Construction Bank received the biggest penalty of CNY 6.1 million. ICBC and Agricultural Bank of China were fined CNY 1.5 million each.

The PBOC will guide pension funds, insurance, social security and asset managers towards investing in ESG products, officials said at a recent forum.

The outstanding balance of short-term financing instruments issued by securities companies shall not exceed 60 percent of net capital.

The approval will make Allianz China IMAC the first fully foreign-owned insurance asset management company on the Chinese mainland.

The licence allows Citi to provide custody services for fund products issued by fund firms or other asset managers in China.

Cai Esheng served as CBRC vice chairman for eight years. He was in charge of supervising non-bank financial institutions.

Goldman Sachs Gaohua Securities, Morgan Stanley Huaxin, and Credit Suisse Founder Securities made the list for the first time.