China

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.

The amendments seek to encourage innovation while also protecting fair competition in the market, incuding by raising penalties for monopolistic behaviour.

The plan, approved by President Xi Jinping, calls for the "complete inclusion" of payments and other financial activities within regulations.

The court said virtual currencies are not legal tender, referencing the 2017 declaration from the PBOC. A higher court upheld the ruling.

New futures and options contracts will be based on the CSI 1000 index, which is considered a comprehensive reflection of the small A-share market.

The CCB agreement allows ADDX to operationalise an arrangement with ICHAM to channel QDLP funds from mainland investors into overseas digital securities.