Payment firms required to gradually increase reserves to 100% of client funds and to deposit all reserves at central custodian by 14 January; All online payments to be settled by central bank clearinghouse moving forward.
July 2, 2018Xiaomi, the first applicant for China’s Depository Receipt programme has decided to put its CDR offering on hold until after its Hong Kong IPO later this month.
June 20, 2018New rules cap individual redemptions from money market funds at ¥10,000; payment companies banned from advancing cash to realise same-day redemptions.
June 4, 2018Baihang Credit Scoring has become the first private credit-scoring firm in China, licensed by PBOC and backed by NIFA as well as 8 credit firms including Tencent Credit and Alibaba's Sesame Credit.
May 25, 2018Rules include requirements related to investor protection, information disclosures; Shanghai-London Stock Connect to allow cross listings of depository receipts.
May 7, 2018Blurring the regulatory distinction between banking and financial technology creates both opportunity and pitfalls.
April 23, 2018The company did not ensure customers had sufficient product information, failed to comply with rules on customer data, included misleading information in ads.
April 12, 2018Overseas-listed tech firms with market cap over 200 billion yuan can issue CDRs; unlisted firms valued over 20 billion yuan to be considered for domestic listings.
April 1, 2018Move aimed at attracting back to the mainland China’s overseas-listed tech giants Alibaba, Tencent, Baidu.
March 20, 2018Baihang Credit Scoring granted three-year licence to provide personal credit information services online.
February 25, 2018