China

Assets in high tech and strategically important emerging sectors that "conform to the national strategy" can be used to restructure ChiNext companies, the CSRC says.

The MOU will enhance supervisory cooperation and facilitate information exchange between the two regulators in the areas of banking and insurance supervision and crisis management.

The rule changes come over a year after the China and Hong Kong bourses started working towards including dual class shares in Stock Connect.

The market manipulation scheme involved 18 traders primarily based in China, over 3,900 US-listed securities and over $31mn in illicit profits.

Over 20,000 private fund managers registered with AMAC are controlled by fewer than 2,000 people, prompting concerns of excessive concentration in the industry.

The former supervisor of ICBC’s US broker-dealer unit has agreed to settle charges for failures involving the improper handling of transactions of ADRs.

Foreign institutional investors can transfer bond holdings and funds between their QFII/RQFII and direct investment schemes starting from 15 November.

The PBOC will allow designated Singapore banks to offer trading and custody services for China’s bond market, starting with DBS.

A senior Guangdong official who reportedly helped Macau authorities prepare the proposal said he hopes the central government will approve the plan by mid-December.

The clarification is important for new rules that will impose a cap on investments in non-standard credit assets by banks’ wealth management products.