China

Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.

MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.

CSRC vice chairman Fang Xinghai says the launch of A-share based financial derivatives will bolster Hong Kong as an international financial centre, while also benefitting China's capital markets.

The revisions lower foreign investor asset requirements, reduce the lock-up period from three years to 12 months, and expands investment channels to include IPOs and tender offers.

Local governments will be allowed to buy ¥200bn in capital replenishment tools issued by small and midsize banks, with a fixed term, detailed repayment plan, and assurances on corporate governance and asset quality.

The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.

Index stocks with risk warnings will be removed, CDRs and STAR Market stocks will be included, and the timeframe for including newly-listed stocks will be extended.

The pace of opening up China's capital market has further accelerated, in spite of the Covid-19 pandemic, CSRC chairman Yi Huiman said at the 12th Lujiazui Forum in Shanghai on Thursday.

Chinese banks are asked to sacrifice 1.5tr yuan in 2020 profits to support businesses through lower lending rates and fees, loan repayment deferrals, and bad debt write-offs.

Douglas Arner explains how Bitcoin, Libra, China's digital currency project, and Covid-19 have each played a role in catalysing what will be a fundamental reorientation of monetary and payment systems.