Chinese regulation News

China’s Regulator Issues New Rules for Risk Management of Insurance Groups

China’s banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate their investments in other companies. The move is aimed at curbing …

China Provides Assurances that Evergrande Crisis Is Being Contained

For months in the runup to the 2008 financial crisis, banking heavyweights from Federal Reserve Chair Ben Bernanke on down said the turmoil in subprime mortgages would be “contained.” That phrase is now making a comeback in Beijing as regulators …

Ping An’s Big Drop in Market Value Driven by Investor Wariness Over China Uncertainties

China’s Ping An Insurance (Group) Co. has long argued it should be treated like a high-growth technology company instead of a seller of life policies. After a $90 billion plunge in its market value, it’s now priced more like a …

China’s Anti-Graft Watchdog to Inspect Financial Regulators, State Banks, Insurers

China is inspecting the nation’s financial regulators, biggest state-run banks, insurers and bad-debt managers for the first time in six years to root out corruption in its $54 trillion financial system. A team led by the Central Commission for Discipline …

China Launches 1st Class-Action Lawsuit as Regulators Vow to Fight Accounting Fraud

SHANGHAI – China launched the country’s first class-action lawsuit against a listed company on Friday, targeting Kangmei Pharmaceutical Co, as regulators vowed “zero tolerance” against accounting fraud and other capital markets “tumors.” The China Securities Investor Service Centre (CSISC), a …

China’s Ant Eyes Options to Divest Founder’s Stake as Beijing Pressure Grows: Sources

HONG KONG – Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw …

China Emphasizes Communist Party Leadership in Governance of Insurers, Banks

China’s banking and insurance regulator issued draft rules on Friday in which emphasized stronger Communist Party leadership in both state-owned and private banks and insurers to contain corporate governance risks. The draft rules urged state-owned banking and insurance institutions to …

China Opens Financial Sector to Increased Foreign Investment

China opened up its financial sector to more foreign investment as the government said it will take targeted measures to cope with rising risks and challenges facing the industry. Foreign investors can take a stake or control entities including wealth …

China ‘Should Focus’ on Financial Market Reforms, Rather Than Punishing U.S. Firms

China should focus on market reforms and avoid restricting access for U.S. financial firms if the trade war escalates and spills into the financial sector, said a lobby group representing global banks and asset managers. The Asia Securities Industry & …

China Plans to Further Relax Rules for Foreign Banks and Insurers

China will further relax rules for foreign banks and insurers of all sizes that plan to invest in the domestic industry, the latest round of easing amid efforts to conclude a trade deal with the U.S. The China Banking and …