Banking and Finance Laws

• People's Bank of China, Regulations on Non-bank Payment Institutions (Draft for Comments)

  中国人民银行关于《非银行支付机构条例 (征求意见稿)》

  PBOC defines market dominance for non-bank payment institutions

  January 29, 2021

• In the News: China-EU Investment Text; Payment Antimonopoly Rules; and Beijing Financial Court

  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

  January 25, 2021

  

• China's Finance Sector: the Financial Revolution in 2020 and Beyond

  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.

  January 22, 2021

  

• China Banking and Insurance Regulatory Commission, Tentative Measures for the Administration of the Sale of Wealth Management Products by Wealth Management Subsidiaries of Commercial Banks (Draft for Comments)

  中国银行保险监督管理委员会商业银行理财子公司理财产品销售管理暂行办法 (征求意见稿)

  Platform operators are not allowed to engage in wealth management.

  January 15, 2021

• In the News: China-EU Investment; Chinese Telecom Delistings; and Foreign Insurer Rules

  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

  January 04, 2021

  

• In the News: Foreign Investment Review; More Entity Listings; and MSCI Removals

  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

  December 21, 2020

  

• In the News: Goldman Securities Buyout; Hong Kong Sanctions; and China Telecom Review

  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.

  December 14, 2020

  

• China Banking and Insurance Regulatory Commission, Implementing Measures on Administrative Permission Matters of Trust Companies

  中国银行保险监督管理委员会信托公司行政许可事项实施办法

  Foreign financial institutions are allowed to invest in trust companies

  December 11, 2020

• In the News: Delisting Bill Passed; Encryption Export Controls; Shadow Banking Report

  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

  December 07, 2020

  

• In the News: Stock Connect Expands; Military-Affiliated Companies; and P2P Crackdown Success

  Hong Kong-mainland Stock Connect expands to include STAR Market-listed and pre-revenue biotech firms; Trump administration set to impose export control restrictions on 89 Chinese companies deemed to be tied to Chinese military; and zero P2P lenders in China following regulatory crackdown according to CBIRC official

  November 30, 2020