The revised EO is clearer, addresses many of the problem areas in the old EO, and is more enforceable, says Nick Turner at Steptoe & Johnson.
Ant will hold a 50% stake in the new unit, which forms a key part of the restructuring that was ordered to resolve regulatory concerns.
The new quotas, awarded to 17 institutions, represent the largest approval by SAFE in the history of the QDII scheme.
Guidance was issued on the terms that should be included in new and old contracts referencing USD LIBOR as well as in new contracts referencing SOFR.
The CBIRC will punish lenders that help borrowers to circumvent regulations prohibiting the use of business loans to buy real estate.
The draft law brings into scope non-bank financial institutions as well as property developers, accounting firms and precious metal dealers.
The new rules, effective 1 July, will strengthen and standardise performance evaluations of directors and supervisors of banks and insurers, the CBIRC said.
The 29 firms that have entered the "white list" will receive lower levels of supervisory scrutiny and be allowed greater flexibility in their business processes.
The ETF cross-listing mechanism provides Chinese investors another avenue to access the Hong Kong market besides Stock Connect.
The so-called "data-sharing hub" will allow data sharing between trusted institutions in a way that ensures that the source data can be used but not seen or moved.
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