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

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8699