Banking and Finance Laws

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

Biden delays implementation of part of Trump's military investment ban; U.S.-China financial investment flows far greater than official figures according to new report; and China launches national carbon emissions trading market

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