The PBOC has approved PayPal’s acquisition of a majority stake in domestic payments firm Gopay, giving it access to various domestic payments licences.
The national social security fund will be used primarily to make up pension shortfalls, using capital from centrally-administered SOEs, including financial institutions.
Nine of China's banks have issued perpetual bonds worth about 410 billion yuan so far, and another eight are preparing to raise another 400 billion yuan.
Tencent Credit and Alibaba’s Sesame Credit hold more customer data than any of their online lending peers, but they are not providing the data to the national credit database.
SAFE has asked financial institutions to monitor for leveraged forex trading and blacklisted 43 FX firms amid signs that illegal capital outflows have been increasing.
Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.
Banks with real estate loans exceeding a certain level are being given window guidance telling them to limit lending to property developers and homebuyers.
Work is underway to develop a unified framework for regulating and supervising critical financial infrastructures in China, where PBOC will be the main coordinating regulator.
The priorities include encouraging more medium- and long-term funds to enter the market, improving the legal system, and strengthening supervision.
The link will seek to simplify the process for foreign investors accessing the China interbank bond market and bring its cross-border settlement mechanism in line with global standards.