The minimum registered capital is more than tripled to CNY 1 billion, and the major investors must have at least a 50% equity stake, compared to 30% previously.
March 22, 2024The third phase of open banking covers transactions involving deposits, credit cards, loans, payments and mobile phones.
January 18, 2024The FSC has also started developing regulatory guidelines on the use of AI in the financial industry, which will be completed by year-end.
October 19, 2023The six core principles cover governance, fairness, privacy, security, transparency and sustainable development.
August 16, 2023NFRA has issued a risk alert to inform consumers of various fraudulent schemes involving impersonation of financial regulators and their staff.
July 13, 2023The guidelines will cover information disclosures, product listings, customer asset segregation, money laundering prevention, consumer protection, and information security, among other areas.
March 31, 2023Over the past three years, more than 7,600 shareholders who violated laws and regulations have either been liquidated or had their rights restricted.
March 31, 2023A new national financial regulatory authority will be established, absorbing the CBIRC and taking over some functions from the PBOC and CSRC.
March 8, 2023Lawmakers are concerned that the growth of the BNPL sector could lead to a crisis similar to the 2005/2006 credit card crisis in Taiwan.
January 8, 2023The law will create a financial stability guarantee fund, set out clear risk prevention and disposal responsibilities for financial institutions, and introduce a resolution regime for SIFIs.
January 6, 2023