Tuesday, January 19, 2021
Tags Chinese State Council

Tag: Chinese State Council

State Council Cancels Enterprise Bank Account Licensing

China's top government authority has unveiled major changes to the licensing system for the opening of enterprise bank accounts by commercial lenders....

State Council Launches New Requirements for Establishment of Financial Holding Companies

China's top government authority has provided further clarification for requirements in relation to the establishment of financial holding companies (FHC), in order...

Chinese Monetary Policy Will Remain Unchanged, Needs Greater Certainty to Deal with COVID-19 Uncertainties: PBOC

A senior official from the Chinese central bank has flagged the maintenance of steady monetary policy in the near-future, as the COVID-19...

State Council Flags RRR Cut Targeting Joint Stock Banks to Help Deal with Coronavirus Impacts

The State Council has flagged the use of targeted cuts to China's reserve requirement ratio (RRR) to help prime the Chinese economy...

Beijing Mandates Lending Rates of under 1.6% for Enterprises Contributing to Coronavirus Containment

China's State Council has called for banks to provide loans with rates of under 1.6% to those enterprises that provide goods and...

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Chinese Central Bank Hails Eradication of P2P Lending, “Orderly Disposal” of High-risk Financial Institutions

The People's Bank of China (PBOC) has highlighted the removal of all of the country's P2P lending platforms in 2020 as part...

NDRC Flags Active Fiscal Policy, Increased Spending on New Infrastructure in 2021

China's chief planning authority has outlined a raft of its policy intentions for 2021, as the national economy continues to recover from...

China’s GDP Breaches 100 Trillion Yuan Threshold after Posting 2.3% Growth in 2020, Disposable Income up 4.7%

Official data points to growth of over 2% in Chinese GDP in 2020 despite the adverse economic impacts of the COVID-19 pandemic....

China Bans Banks from Selling Depository Products via Third Party Online Platforms

Beijing has issued a new directive which further steps up pressure on the sale of depository products via online fintech platforms, after...