Banks’ reputational risk can no longer be handled just by marketing departments - 7 October 2009
The China Banking Regulatory Commission (CBRC) has recently released a Guidance on Commercial Banks’ Management of Reputational Risks - changing the way financial institutions manage reputational risks. The new guidelines are aimed at having commercial banks take ownership of addressing and managing such risks.
China finalises rules for consumer finance companies - 19 August 2009
China’s consumers will soon have access to additional sources of consumer finance for household items and general purposes. Following a one month public consultation process, China’s banking regulator has issued final rules allowing domestic and foreign institutions to establish consumer finance companies in Beijing, Shanghai, Chengdu and Tianjin.
Chinese regulators issues new rules to regulate derivatives transactions - 10 August 2009
中文版
In a move designed to protect onshore (domestic) Chinese banks and their customers from exposure to derivative products which are perceived as being high risk, the China Banking Regulatory Commission (CBRC) has unveiled stringent new rules to further regulate the issue and use of derivative products.
New Master Agreement for Financial Derivatives in China - 18 March 2009
中文版
On 16 March 2009 the China Interbank Market Financial Derivatives Master Agreement (2009 version) (NAFMII Master Agreement (2009 version)) as well as a relevant notice (NAFMII Notice (No.5)) by the National Association of Financial Market Institutional Investors (NAFMII) was released. This is the latest step by the Chinese authorities to regulate and further support the development of the financial derivatives market in China.
Further steps to open the Chinese corporate bond market - 15 January 2009
Recent action by Chinese regulators is set to ease some of the difficulties encountered by Chinese companies (including foreign owned subsidiaries and joint ventures) in raising capital, and provide new business opportunities for foreign incorporated local banks.
New acquisition finance rule to boost Chinese M&A market - 15 December 2008
A guideline issued by the China Banking Regulatory Commission (CBRC) on 9 December 2008 overturns a long-standing restriction on the granting of bank loans for equity investments in China. The initiative will expand the financing channels available to Chinese enterprises and is expected to boost both onshore and outbound mergers and acquisitions (M&A) activity.
China strengthens its regulation on wealth management products - 24 April 2008
The China Banking Regulatory Commission (CBRC) has issued a notice to strengthen its regulation on wealth management products issued by banks in China. This follows on from the increase in customer complaints and disputes regarding new financial products that have recently entered the rapidly changing Chinese economic market.
China re-opens domestic capital markets to foreign investors – 26 February 2008
Following the third Sino-US Strategic Economic Dialogue (SED III) held on 13 December 2007, China has released two long-awaited rules and measures governing the re-opening of its domestic capital markets to foreign investors.
China opens RMB retail business to foreign banks from 11 December 2006 - 23 November 2006
China has issued new rules to govern foreign banks' activities in China from 11 December 2006. To participate in the potentially lucrative retail RMB (renminbi) business and bank card business foreign banks have to incorporate subsidiaries in China as wholly-owned banks or Sino-foreign joint venture banks. These conditions will require most international banks to radically restructure their operational structures in China.
"The firm has broadened its horizons over the last three years by focusing on expanding its capabilities in Asia…This has given the much-needed local know-how and legal expertise to exploit the numerous opportunities emanating from the Chinese marketplace.”
The Global 50, PLC Which Lawyer? Yearbook 2006