China Securities Regulatory Commission is talking with at least 30 large global institutional investors in the US to invest in China-listed shares, while lobbying for mainland stocks’ inclusion in key global indices such as the MSCI and FTSE.
China is expected to launch in the second half this year its much-awaited international payment system that can process cross-border yuan transactions, removing one of the biggest hurdles in internationalizing the Chinese currency, Reuters reported.
China will allow local governments to convert up to 1 trillion yuan ($160 billion) in debt into low-interest municipal bonds in a bid to ease the country’s massive debt burden.
Hong Kong’s upcoming cross-border stock trade with Shenzhen will include stocks on the high-growth small and medium enterprise (SME) board, and also possibly stocks listed on ChiNext, a NASDAQ-style board.
As part of reforms that will permit financial institutions to conduct mixed businesses, China plans to issue banks with brokerage licenses, Reuters reported.
The Securities and Futures Commission expects about 600 Hong Kong and mainland Chinese funds to participate in a cross-border offering of funds that will be launched soon.
Foreign lenders still struggle with cumbersome regulatory processes for obtaining banking licenses, despite China's recent easing of policies for newcomers in the country’s banking industry.
China’s proposed banking security rules requiring foreign technology firms to turnover source codes and submit to audits were among items discussed in a recent high-level talks between Beijing and the U.S.
Draft proposals of new laws are the biggest in ten years and will streamline and clarify regulations in order to open up the economy.
The China Banking Regulatory Commission (CBRC) said it began a major restructuring of its departments for the first time in view of more regulatory and structural changes in the banking industry.