China

The latest update highlights progress to implement the Basel III standards from APAC jurisdictions including Australia, Indonesia, Japan and China.

China Development Bank was handed the largest penalty, amounting to CNY 42.7 million. The other nine banks were fined a combined CNY 6.6 million.

New regulatory guidance calls on banks to offer businesses movable property- and rights-based financing, and to expand the types of collateral they accept for loans.

The recognition follows the adoption of a decision on the equivalence of China's regulatory framework for CCPs with EMIR requirements in June.

Through the SZSE-SGX ETF Link, a Singapore-constituted feeder ETF can invest up to 100 percent of its NAV into an SZSE-listed master ETF.

Local governments will be allowed to relax interest rate floors for first-home buyers. Tax refunds are available for those selling their home to buy a new one.

Deloitte China personnel asked certain Chinese clients to select their own samples for testing and prepare their own audit documentation.

The 18 firms, which include PwC, EY and Morningstar's China units, will be responsible for evaluating and certifying green bonds and help to prevent greenwashing.

The re-lending facility will provide low-cost funding for loans issued to support equipment upgrades, digital transformation and renovations by businesses.

Twenty defendants have been arrested on suspicion of illegal business activity and money laundering using the e-CNY.