One of China’s leading state-owned financial publications says recently appointed central bank governor Yi Gang will focus on the domestic economy when adjusting interest rates, as opposed to the actions of the US Federal Reserve.
The head of the China Banking Regulatory Commission has signalled a shift in the focus of ongoing deleveraging efforts, making reference to the need to contain Chinese household debt levels.
An opinion piece published by the state-owned Xinhua News Agency says that Chinese depository receipts will accelerate the maturation of China’s capital market, and drive the return of the country’s best “new economy” enterprises that are currently listed abroad.
The Chinese central bank has raised its 7-day repo bid rate five basis points in the wake of the US Federal Reserve’s widely anticipated rate hike.
The China Banking Regulatory Commission is calling for lenders to establish internal systems for the reporting of improper conduct on the part of their staff.
China’s central bank is dialling back restrictions and licensing requirements that prevent overseas payment companies such as Paypal from entering the Chinese market.
Guo Shuqing, chief of the China Banking Regulatory Commission, is set to head the newly formed joint banking and insurance authority according to a report from Caixin.
The China Securities Regulatory Commission is expected to remain an independent body amidst sweeping reforms of the the country’s financial regulatory framework intended to consolidate key authorities.
One of China’s leading economists says that sweeping reforms of the country’s financial regulatory framework will see the People’s Bank of China become a “super central bank” entrusted with macro-prudential regulation and the formulation of banking laws in addition to monetary policy.
The Agricultural Bank of China has announced the suspension of payment channels for certain forms of online lending that are currently coming under greater scrutiny from financial regulators.