Of Henan's 93 commercial banks, 42 have high levels of nonperforming loans, a dozen of which reported an NPL ratio above 20%, 'several' as high as 40%.
Of the 50 listing applicants so far, 41 have been accepted and will have to through a second stage of audit and inquiry. The other 9 have been sent inquiry letters.
Fullerton has become the first foreign fund manager to receive approval for its WFOE to conduct onshore investment advisory business in China.
Overseas investors may get access to mainland stock index futures under the QFII and RQFII programmes. No details revealed about quota arrangements.
JP Morgan and Nomura have been given regulatory approval to set up new majority owned securities joint ventures in China.
A Standard Life Aberdeen joint venture is the first foreign funded insurer authorised to participate in the pensions sector, which to date has been dominated by 8 domestic firms.
China’s pilot scheme allowing banks to sell government bonds to retail investors has been met with success, with over $200mn in bonds sold in a single day.
Regulators at the three-day China Development Forum in Beijing had a common message for the market – that China plans to ramp up efforts to open up the financial sector this year.
China's banking regulator has issued new rules requiring mandatory disclosure of NSFR every six months, and additional public disclosures of NSFR data on banks' websites.
BOCHK has been granted regulatory approval to launch a pilot scheme that enables Hong Kong citizens to open a personal bank account in the mainland, remotely.