All posts tagged "CBIRC"
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319AML / KYCCBIRC Discloses List of ‘Illegal Shareholders’ of Banks, Insurers
20 of the 38 companies on the list are linked to either Baoshang Bank or Anbang Insurance, which both needed a state bailout in recent years.
July 7, 2020 -
555China
CBIRC Strengthens Administrative Procedures for Penalising Illegal Acts
The maximum administrative penalties for illegal acts are effectively increased to ¥5mn for banking institutions and ¥500,000 for banking industry personnel.
July 4, 2020 -
585China
CBIRC Issues Treasury Bond Futures Trading Rules for Insurers
Insurers can only trade treasury bond futures to hedge asset risk, lock in the price on future purchases, or manage interest rate risks caused by asset and liability mismatches.
July 3, 2020 -
479ChinaChina Sets Stage for GBA Wealth Management Connect Scheme
Under a pilot scheme, Greater Bay Area residents will be able to invest in wealth management products distributed by GBA banks across boundaries.
June 30, 2020 -
258Capital RegulationChinese Authorities Intervene to Prevent Bank Runs – Report
Local authorities in Hebei and Shanxi reportedly had to intervene last week to halt cash withdrawals at two small lenders amid rumours of mounting bad loans.
June 25, 2020 -
357ChinaCBIRC Allows AIA to Incorporate as Wholly-owned Subsidiary in China
The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.
June 22, 2020 -
458Capital Regulation
Chinese Officials Ask Banks to ‘Bear the Costs’ of Rising Bad Debt
Chinese banks are asked to sacrifice 1.5tr yuan in 2020 profits to support businesses through lower lending rates and fees, loan repayment deferrals, and bad debt write-offs.
June 22, 2020 -
399ChinaChina: Former Insurance Regulator Jailed on Corruption Charges
Xiang was fired from his post as the CIRC's chairman in April 2017, and placed under investigation for accepting CNY 18.6 million in bribes between 2005 and 2017.
June 18, 2020 -
213ChinaChina Pacific Insurance List GDRs in London
The issuance is the largest capital raising on the LSE in three years, even at a 10% discount to China Pacific Insurance's corresponding A-shares in Shanghai.
June 18, 2020 -
1.2KChinaShanghai Police Detain Anxin Trust Controller Over Illegal Loans
Police have detained Anxin Trust's biggest shareholder for lending assets under management in trust products to friends and other associates.
June 12, 2020
