China

Shenzhen’s ChiNext board has begun work to prepare for adoption of a registration-based IPO system, currently in use at Shanghai’s new tech board.

Goldman is seeking to bring its China business in line with its operations in other parts of the world – as its local partner folds its operations into the joint venture.

The individuals, including a news editor, were fined for spreading ‘fabricated’ news that the CSRC blames for stock market declines in late January.

A new report from S&P says insurers’ high exposure to banks and cross-holdings between banks could heighten systemic risk.

By enlarging their investment scopes, the regulator is also paving the way for them to expand their businesses in China.

Standardised notes are tradable beneficiary certificates backed by a pool of commercial paper or bankers’ acceptances with similar maturities.

Financial institutions are encouraged to “actively carry out intellectual property pledge financing business” to provide greater support to innovative enterprises in their development.

The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.

The rules cover financial resources management and multilateral netting, specifying how the CSDC will handle defaults from settlement participants.

The HKMA has reportedly been investigating several Hong Kong lenders for financing large scale overseas asset purchases by Chinese conglomerates.