Local governments will be allowed to relax interest rate floors for first-home buyers. Tax refunds are available for those selling their home to buy a new one.
October 4, 2022China's large state-owned asset management companies are asked to play a greater role in reducing the risks from non-performing assets at small and medium-sized banks.
June 13, 2022About 12 developers will be supported by banks and distressed debt managers in the first wave of the programme.
April 28, 2022Hu Xiaogang, a former vice president of China Orient Asset Management, is under investigation for suspected corruption.
June 10, 2021Trust companies can transfer bad assets to the balance sheet of China Trust Protection Fund, which was set up in 2014 to provide liquidity support to the trust sector through loans.
May 14, 2021ICBC, China Development Bank, Great Wall, and Postal Savings Bank and a number of their subsidiaries were penalised almost 200mn yuan for various regulatory violations.
January 11, 2021China Galaxy Asset Management will receive its licence within ten days, and proceed with the necessary procedures to open for business in early 2021.
December 21, 2020The reforms are said to be in part aimed at shielding the Ministry of Finance from risk. The Ministry is the largest shareholder of each of the national AMCs.
March 27, 2020Jiantou Citic Asset Management will transition into a financial asset management company, making it the first new national distressed debt manager authorised since 1999.
March 18, 2020An ICBC unit will invest up to 3 billion yuan for a more than 10% stake in Bank of Jinzhou, whose auditor quit in May citing loan inconsistencies.
July 29, 2019