China’s MIIT has issued draft guidelines for the construction of a comprehensive standardisation system for the AI industry.
Besides the 50bp RRR cut for banks, regulators pledged to bolster investment returns and incentivise SOEs to improve share price performance.
Policymakers have earmarked at least CNY 300 billion of local funds and CNY 2 trillion of offshore funds to use to buy shares.
Premier Li Qiang emphasised the need to enhance the quality and investment value of listed companies and persuade more medium and long-term funds to invest in stocks.
Liu Lixian will have his illegal gains confiscated and his case transferred to prosecutors for further review.
ICBC disclosed confidential supervisory information without regulatory approval and had deficiencies in its BSA/AML compliance programme.
Credit Agricole, HSBC and StanChart can be lead underwriters of yuan debt issues by domestic and foreign borrowers.
Chinese banks securitised a record amount of bad loans in 2023 amid a property slump and economic slowdown.
The threat of secondary sanctions has prompted Chinese state-owned banks to review their Russian business and sever ties with clients on the sanctions list.
Regulators have reimposed restrictions on securities firms, asking them to avoid being net sellers of equities on certain days.
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