Of over 10,000 financial leasing companies in China at the end of June, more than 70% have either halted, are shell companies, or are mired in crisis.
The PBOC will pay just 0.35% annually on customer money that payments firms hold with the central bank, but the move marks a reversal of an earlier decision to pay no interest.
The application to take a majority stake in Guangdong-based JPMorgan Futures follows the removal of the foreign ownership limit for futures companies on 1 January 2020.
The PBOC is looking to enhance its digital supervision capabilities and improve risk governance in fintech development across the financial sector.
The guidance sets 5-year targets for banks and insurers to improve in areas such as governance, risk management, financial product development and fintech innovation.
To trade NEEQ stocks, fund managers should have investment and research capabilities, and strong liquidity risk management, due diligence and internal control systems.
The rule update requires the China broker to keep records of all submitted orders, SEHK trades and related client instructions for a minimum of 20 years.
Chinalin Securities is prohibited from expanding the scale of its business for three months for violating regulations on internal controls, compliance inspections and governance failures.
Local governments have been told to revise their procedures and remove restrictions to allow foreign-invested banks to participate in bond underwriting syndicates.
Market participants must demonstrate adequate internal operating procedures and risk management systems are in place, and apply by 7 February to become interest rate option market trading members.
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