Featured Product

    CBIRC Holds Forum on Foreign Banks and Insurance Institutions

    December 13, 2019

    CBIRC published a summary of the forum held on foreign banks and insurance institutions. On this occasion, CBIRC discussed the opening-up policy for the banking and insurance sectors in China. In accordance with the general requirement of "sooner rather than later, faster or slower," 34 banking and insurance measures have been introduced in the past two years. It was emphasized that the pace of financial sector opening to higher levels will not stagnate.

    The liberalization measures have enriched the commercial presence of foreign institutions in China, expanded their business scope, optimized regulatory rules, and relaxed restrictions on foreign investment access and shareholding ratios. A comprehensive, multi-layered, and wide-ranging open structure of the banking insurance industry has basically taken shape. CBIRC will further deepen reform, expand opening up, and promote the high-quality development of the banking and insurance industry in the following ways: 

    • The first is to speed up the improvement of laws, regulations, and supporting systems; ensure that the opening measures are effective, and provide convenience for foreign financial institutions to operate in China. 
    • The second is to continue to deepen the structural reform of the financial supply side and promote sound competition and cooperation between Chinese and foreign institutions at a higher level. 
    • The third is to create a world-class business environment; build a policy environment that is in line with the international standards, consistent internally and externally, open and transparent, stable, and predictable; listen carefully to market voices; and help foreign financial institutions resolve their reasonable issues. 
    • The fourth is to "keep the bottom line of risk," adapt to the new pattern of two-way opening of finance, advance the modernization of financial supervision and governance system and governance capabilities, deepen cross-border supervision cooperation, and ensure that the door is opened and risks are managed.

     

    Related Link (in Chinese): Press Release

    Keywords: Asia Pacific, China, Banking, Insurance, Foreign Banks, Opening Up Policy, CBIRC

    Related Articles
    News

    EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio

    EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.

    November 19, 2020 WebPage Regulatory News
    News

    ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs

    In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.

    November 19, 2020 WebPage Regulatory News
    News

    IASB Begins First Phase of Post-Implementation Review of IFRS 9

    IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Report Examines Progress in Resolvability of Systemic Institutions

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.

    November 18, 2020 WebPage Regulatory News
    News

    EBA Benchmarks National Insolvency Frameworks Across EU

    EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Reports Assess Impact of Pandemic on Financial Stability

    FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.

    November 17, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Implementation of Capital Review Changes

    RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

    November 17, 2020 WebPage Regulatory News
    News

    IASB Announces Andreas Barckow as the New Chair from July 2021

    The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.

    November 17, 2020 WebPage Regulatory News
    News

    HKMA Consults on Capital Rules for Bank Equity Investments in Funds

    HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.

    November 17, 2020 WebPage Regulatory News
    News

    ESRB Supports Extension of Macro-Prudential Measure by Swedish FSA

    ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).

    November 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6153