Region: China

PBOC proposes initial Swap Connect rules

China’s central bank has released the northbound section of its “eagerly awaited” draft framework for its plan to connect the Hong Kong and mainland financial derivatives markets – addressing outstanding questions about financial market infrastructures, participant qualifications, and Chinese yuan exchange.

23 February 2023

CSRC greenlights China’s first wholly foreign-owned securities firm

China’s securities regulator has given Standard Chartered in-principle approval for the first wholly foreign-owned securities firm on the Mainland since the lifting of ownership restrictions for foreign financial institutions in 2020.

09 February 2023

A “first step” in US-China audit inspections

The United States’ accounting overseer will be able to inspect firms based in mainland China and Hong Kong, following an agreement with China’s securities regulator – but US officials have cautioned it’s still too early to say whether the deal will hold up.

31 August 2022

China enacts “historic” futures and derivatives law

China has enacted its first “fundamental” futures and derivatives statute, making it a clean netting jurisdiction for the first time – but there are fears its new status could run its firms up against a rapidly-approaching global deadline.

03 August 2022

China offers conduit to yuan-backed swap derivatives for overseas investors

Central banks and regulators in China and Hong Kong have agreed to provide offshore access to Chinese interest rate swap derivatives, making another move to internationalise the Chinese yuan.

06 July 2022

Chinese regulator releases “milestone” green finance guidelines

China’s principal banking regulator has issued a “very specific” rulebook for banks’ green finance activities.

08 June 2022

China expands foreign access to bond market

Foreign investors in Shanghai and Shenzhen will be able to directly trade Chinese bonds from July under new reforms, as China completes the opening up of its onshore bond market.

01 June 2022

Beijing launches three-year plan for AML

China’s central bank is addressing what it has labelled its “grim” anti-money laundering record , only a few months after amending its AML law.

02 February 2022

China’s central bank bans crypto - again

The People’s Bank of China has banned cryptocurrency mining and transactions nationwide, in its third move to stamp out the virtual currencies this year.

27 September 2021

China “tightens the screws” on crypto

Three industry bodies in China have announced a ban on financial institutions and payment companies from providing services related to cryptocurrency transactions, in a move one practitioner calls an effort to “contain a competitor”.

21 May 2021

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