China

Hainan authorities issued a notice highlighting the risks of fraud, money laundering, and illegal fund-raising in relation to digital collectibles, the term used for NFTs in China.

The registration-based IPO system adopted by the STAR Market, ChiNext and BSE will be adopted on the main boards of the Shanghai and Shenzhen exchanges.

Institutional investors with bond accounts at the CCDC can apply for access to trade government bonds on Beijing Stock Exchange's platform.

Foreign-funded FIs will be allowed to use a re-lending facility designed to support carbon emission reductions. The facility is extended until end-2024.

Morgan Stanley Huaxin Fund Management is the 10th asset manager to obtain QDII status, which allows firms to invest offshore for mainland investors.

The rules strengthen requirements for firms to protect customers and implement transaction management and process controls.

The draft rules cover changes to align the Mainland and Hong Kong's trading calendars and expand the scope of stocks that can be traded via Stock Connect.

JPMorgan won approval to take full ownership of its fund management venture. StanChart won approval to set up a new securities brokerage.

The rules are aimed at improving the ability of private equity investments to serve the real economy and support innovative businesses.

As part of the plan, FIs will be encouraged to invest in the field of data security and provide convenient and efficient financial services to the sector.