State-owned banks including BOC, CDB, ICBC and CCB were fined a total of USD 13.8 million for data quality and reporting issues.
April 5, 2022The pilot scheme began in September with 4 domestic banks being allowed to offer retirement wealth management products in four cities.
March 2, 2022BlackRock CCB Wealth Management will be able to launch retirement WMPs in Guangzhou and Chengdu for a one-year trial period.
February 15, 2022The banks will pilot new wealth management products across four selected cities to help address China's retirement savings gap.
December 1, 2021Four domestic banks will test wealth management products for one year in Wuhan, Qingdao, Chengdu and Shenzhen.
September 15, 2021The three banks failed to conduct proper due diligence and verify cash that appeared to be abnormally restricted when underwriting Yongcheng Coal’s bonds.
January 22, 2021Haitong Securities, Industrial Bank, China Everbright Bank, Zhongyuan Bank are suspected of violations, as recent defaults prompt concerns over the health of SOEs.
November 20, 2020Banks have reportedly been directed to reduce their structured deposits to January levels, as part of CBIRC efforts to stamp out abuse of cheap loans.
June 11, 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, 2020China Minsheng Bank, China Everbright Bank and Huatai Securities have been fined a combined 52mn yuan for failures in customer identification, transaction reporting and record keeping.
February 18, 2020