Banking and Finance Laws

PBOC defines market dominance for non-bank payment institutions

European Commission publishes full text of China-EU investment deal; PBOC publishes draft rules targeting anti-competitive practices of payment platforms; NPCSC adopts decision launching Beijing Financial Court

Kevin Yuan and Lucca Li of FenXun Partners discuss the numerous ways China is opening up its finance market to foreign investors, supporting Fintech innovation and accelerating the financial revolution by introducing regulatory measures to make China's financial markets attractive to global investors.

Platform operators are not allowed to engage in wealth management.

China and European Union agree major investment deal; New York Stock Exchange begins process of delisting three Chinese telecom giants; and CBIRC issues draft clarifying market access rules for foreign insurers

NDRC, MOFCOM launch new national security review for foreign investments; Trump administration adds SMIC and dozens other Chinese entities to Entity List; MSCI drops seven Chinese companies from indices following Trump Executive Order

Goldman Sachs set for full ownership of Chinese securities JV; U.S. Treasury fails to identify any financial institutions for secondary sanctions under Hong Kong Autonomy Act; FCC launches official review of China Telecom's operations in the U.S.

Foreign financial institutions are allowed to invest in trust companies

U.S. House unanimously passes Holding Foreign Companies Accountable Act; China releases first export control list under new regime, targetting encryption technologies; CBIRC publishes shadow banking report, defining sector for first time