China

IPO sponsors will be required to hold stakes of 2-5% in the companies they help list on Shanghai's new science and technology board.

Only 100 P2P lending platforms are expected to qualify for new licences under the new registration system set to be introduced later this year.

Investors will be exempt from tax on profits from trading CDRs for three years, in addition to preferential tax treatment on dividend income.

Beijing vice mayor Yin Yong says securities firms, fund managers and futures trading firms should be able to to invest outside China through the QDII and RQDII schemes.

The employee allegedly used a group supervisor's password to access the funds, which were used to buy apartment units in the US, Greece and Japan.

With the government bond market now open to retail investors, China is relaxing a restriction that only allowed bond-buying during the first 10 days of the month.

Of Henan's 93 commercial banks, 42 have high levels of nonperforming loans, a dozen of which reported an NPL ratio above 20%, 'several' as high as 40%.

Of the 50 listing applicants so far, 41 have been accepted and will have to through a second stage of audit and inquiry. The other 9 have been sent inquiry letters.

Fullerton has become the first foreign fund manager to receive approval for its WFOE to conduct onshore investment advisory business in China.

Overseas investors may get access to mainland stock index futures under the QFII and RQFII programmes. No details revealed about quota arrangements.