Banking and Finance Laws

Pledgees are allowed to realize the pledged stock

U.S.-China tensions remain number one concern among U.S. companies in China; FCC designates five Chinese companies as national security threats; and PBOC, SAFE launch pilot program in Beijing, Shenzhen for multinationals' foreign exchange purchases

Commercial banks are not allowed to engage in cross-region online lending

Most high-tech MNCs expect greater difficulties in China even with more market access; Chinese investment in Australia plummets in 2020 amid pandemic and regulatory scrutiny; and China approves Schroders majority-owned wealth management JV

CBIRC finalizes online lending rules requiring strict loan finance ratios; U.S. Chamber of Commerce warns of dire economic impact of decoupling; and China replaces U.S. as EU's biggest trading partner in goods

CBIRC adds more specifics to the evaluation of directors and supervisors of banks and insurance companies

The Draft strengthens governance of independent directors

Market makers will no longer be set by product

Chinese antitrust bodies finalize strict guidelines for platform operators; PBOC digital currency body links up with SWIFT to launch JV; and German chamber survey reports optimism despite pandemic woes