China government researchers are advising the central bank to rein in the growth of third-party payment providers by increasing entry thresholds and encouraging existing firms to merge.
The China Banking Regulatory Commission (CBRC) has resumed work on banking technology rules it suspended earlier this year following opposition from foreign governments and business groups.
The People’s Bank of China ordered state banks to buy yuan, at designated rates on behalf of the monetary authorities, to stem the currency’s slide.
Taiwan’s Financial Supervisory Commission has granted approval for CTBC Bank to become the first Taiwanese bank set up a consumer financing joint venture in China.
The China Banking Regulatory Commission has granted new “bad bank” licences to the provincial governments of Ningxia and Guangxi, allowing them to buy up and restructure bad debt from the balance sheets of rural credit cooperatives and local banks.
The PBOC issued the Interim Measures for the Administration of Certificates of Deposit in June this year, an examination into the impact of the recent notice.
The China Securities Regulatory Commission will soon begin inspecting online equity financing platforms to address risks brought by illegal activities and help the platforms better serve the real economy.
China’s National Development and Reform Commission says it will further develop the bond market using initiatives to boost debt funding for infrastructure projects which will also server to boost the economy.
China’s Ministry of Finance has granted "bad bank" licences to three asset management companies (AMCs) allowing them to buy non-financial distressed assets from corporates directly.
The draft rules will prevent users from transferring funds to other users' bank accounts, cap the size of daily transactions and increase identification requirements.