The selected banks will play a leading role in price formation and in supplying liquidity to the KRW/RMB direct trading market.
January 3, 2021China Merchants Bank and Bank of Communications were fined for failing to protect the personal data of credit card customers.
August 9, 2020Two former employees of a crude oil products supplier allegedly created fictitious sales contracts and invoices to obtain $340mn in financing from eight banks.
June 16, 2020The banks were each fined between 1.6mn and 2.7mn yuan for underreporting information on certain transactions, wealth management products, and credit asset transfers.
May 14, 2020The brokerage did not have effective controls to identify third party deposits, and "extensive deficiencies" were found in its handling of margin lending and margin calls.
April 20, 2020Administered by HKMC Insurance, the Special 100% Loan Guarantee Scheme has been expanded to total guarantees of HK$50bn, alongside a doubling of the per-enterprise loan limit.
April 17, 2020Participation by the three banks in the treasury bond futures market will improve liquidity, enhance price discovery, and create a more meaningful yield curve.
April 14, 2020A new pilot scheme to allow Chinese banks to trade government bond futures is a healthy step towards allowing foreign investors to finally tap it, experts believe.
March 12, 2020The former manager accepted more than 10 million yuan in bribes and embezzled a further 820,000 yuan, representing illegal gains from organising employee competitions and events.
March 12, 2020The domestic treasury bond futures market was closed in 1995 following a panic sell-off and the collapse of China's largest brokerage at the time.
February 24, 2020