Featured Product

    CBIRC to Further Promote Development of Financial Services for SMEs

    April 25, 2021

    CBIRC issued notice on promoting the high-quality development of financial services for "small and micro" enterprises, or SMEs, in 2021. The notice clarifies policy requirements for bancassurance institutions to serve small and micro enterprises, which includes policies on allocating existing financial resources, optimizing the financial supply structure, and enriching the business of inclusive insurance products. The notice sets out that banking financial institutions should further innovate and improve the credit evaluation model, risk management and control technology, and batch credit approval mechanism for small and micro enterprises.

    The notice sets out the following considerations to promote development of financial services for small and micro enterprises in 2021: 

    • Inclusive small and micro enterprise loans need to continue to achieve the goal of "two increases" in terms of growth rate and number of households throughout the year. Five large banks must strive to achieve an annual growth of more than 30% in inclusive small and micro enterprise loans. 
    • Institutions need to continue to increase the initial loan, renewal, and credit loans of small and micro enterprises and to focus on increasing independent and controllable medium and long-term credit support for advanced manufacturing, strategic emerging industries, and industrial chain supply chains. 
    • Institutions need to encourage the deepening of the bancassurance cooperation mechanism and explore and innovate insurance policy financing products for small and micro enterprises under the premise of controllable risks. 
    • Banking financial institutions should further improve their internal mechanisms and systems against the financial service supervision and evaluation indicators of commercial banks for small and micro enterprises.
    • Banking financial institutions need to be encouraged to use credit asset securitization and direct transfer of credit assets under the premise of legal compliance and risk control to revitalize their credit stocks and use them to continuously extend loans to small and micro enterprises. 

     

    Related Links (in Chinese)

    Keywords: Asia Pacific, China, Banking, Insurance, Small and Micro Enterprises, Credit Risk, SME, CBIRC

    Related Articles
    News

    EBA Guide to Monitor Threshold for Intermediate Parent Undertakings

    The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).

    July 28, 2021 WebPage Regulatory News
    News

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    ESMA Group Issues Recommendations on RFR Switch in Interdealer Market

    The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.

    July 26, 2021 WebPage Regulatory News
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    EIOPA Consults on Reporting and Disclosures Under Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7295