https://www.scmp.com/rss/518013/feed The latest news on Chinese banker, Yi Huiman, former chairman of the China Securities Regulatory Commission. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com William Zheng William Zheng A former head of China’s equities market regulator will face trial on allegations that he took vast sums in bribes in return for approving company listings and loans, according to the Communist Party’s top anti-graft watchdog. Yi Huiman, former chairman of the China Securities Regulatory Commission (CSRC), allegedly used “his position to seek benefits for others in job promotions, listing approvals and obtaining loans, and illegally accepted huge amounts of bribes”, the Central Commission for... https://www.scmp.com/news/china/politics/article/3352047/former-csrc-chairman-yi-huiman-face-trial-taking-bribes-abusing-power?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3352047/former-csrc-chairman-yi-huiman-face-trial-taking-bribes-abusing-power?utm_source=rss_feed Thu, 30 Apr 2026 11:02:45 +0000 William Zheng William Zheng China’s ruling Communist Party has vowed to press ahead with President Xi Jinping’s anti-corruption campaign after a record 65 high-ranking officials were detained by the country’s top anti-graft agency last year. In a front-page editorial on Saturday, the People’s Daily stressed that self-reform and anti-corruption efforts were key to ensuring the longevity of the party’s rule over China. “A new year, a new journey begins,” the party mouthpiece said, urging intensified discipline in the coming... https://www.scmp.com/news/china/politics/article/3338596/xi-jinpings-anti-corruption-drive-snares-record-65-tigers-2025?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3338596/xi-jinpings-anti-corruption-drive-snares-record-65-tigers-2025?utm_source=rss_feed Sat, 03 Jan 2026 10:00:16 +0000 Julie Zhang Julie Zhang China’s top securities watchdog appeared in public just hours after he was reported to have offered his resignation, in what analysts said could be an effort by authorities to prevent market destabilisation. The China Securities Regulatory Commission (CSRC) said in a statement on Thursday that its chairman Wu Qing was travelling to France and Brazil from November 10 to 13. It also displayed photos on its website of Wu taking part in meetings in the two countries. The prompt and rare publicity of... https://www.scmp.com/business/banking-finance/article/3332701/chinas-market-regulator-wu-qing-appears-public-after-resignation-report?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332701/chinas-market-regulator-wu-qing-appears-public-after-resignation-report?utm_source=rss_feed Thu, 13 Nov 2025 14:41:19 +0000 William Zheng William Zheng China’s former central bank chief, Yi Gang, and nine other senior officials were removed from leadership roles in the country’s top political advisory body on the weekend, indicating they had been further sidelined. The decision affecting the 10 was made at a meeting of the Standing Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) in Beijing that ended on Saturday, according to state news agency Xinhua. “Following a vote, it was decided... https://www.scmp.com/news/china/politics/article/3331341/chinas-former-central-bank-chief-loses-leadership-role-top-advisory-body?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3331341/chinas-former-central-bank-chief-loses-leadership-role-top-advisory-body?utm_source=rss_feed Mon, 03 Nov 2025 09:59:37 +0000 Sylvia Ma,Mandy Zuo,Yuanyue Dang Sylvia Ma,Mandy Zuo,Yuanyue Dang After a meeting of China’s political leadership setting the tone for policymaking over the next five years, warnings of “raging storms” and growing uncertainties joined declarations of confidence in the nation’s economic resilience, as Beijing vowed to make “notable progress” in the pursuit of development and to maintain its status as a manufacturing powerhouse. In a communique issued following the conclusion of the fourth plenum on Thursday, the ruling Communist Party’s Central Committee called... https://www.scmp.com/economy/china-economy/article/3330062/china-pledges-notable-progress-fourth-plenum-concludes-5-year-road-map?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3330062/china-pledges-notable-progress-fourth-plenum-concludes-5-year-road-map?utm_source=rss_feed Thu, 23 Oct 2025 09:09:34 +0000 William Zheng William Zheng The fourth plenum of China’s ruling Communist Party taking place this month will be closely watched for potential reshuffles, with at least nine members of its top policymaking Central Committee set to be replaced. These changes are expected either due to ongoing corruption investigations or because some officials have passed away, marking a new high in turnover since 2017. The fourth plenum is one of seven typically held during each five-year term of the Central Committee. The coming edition... https://www.scmp.com/news/china/politics/article/3328127/chinas-fourth-plenum-poised-highest-central-committee-turnover-8-years?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3328127/chinas-fourth-plenum-poised-highest-central-committee-turnover-8-years?utm_source=rss_feed Tue, 07 Oct 2025 22:00:08 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks kicked off the week’s trading on a solid note on Monday, as the market opened for trading despite Typhoon Tapah triggering a No 8 signal that remained in force through the morning session. The Hang Seng Index gained 0.9 per cent to close at 25,633.91, its highest in two weeks. The Hang Seng Tech Index rose 1.2 per cent. The No 8 signal was downgraded to No 3 at 1.10pm. The stock exchange closed during typhoon signals and heavy rain warnings for 70 years, until Chief Executive... https://www.scmp.com/business/china-business/article/3324683/hong-kong-stocks-extend-weekly-advance-trading-during-typhoon-tapah?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324683/hong-kong-stocks-extend-weekly-advance-trading-during-typhoon-tapah?utm_source=rss_feed Mon, 08 Sep 2025 02:20:49 +0000 Sylvia Ma Sylvia Ma China’s anti-corruption campaign in the financial sector may not immediately boost confidence given the prevailing uncertainties, an analyst has warned. However, it is believed that over time the drive could put the country on a cleaner governance path and help to attract overseas investors. Beijing’s intensified anti-corruption drive has seen high-profile figures like Yi Huiman, the former head of China’s securities watchdog, placed under investigation. He is being investigated by the Communist... https://www.scmp.com/news/china/politics/article/3324613/chinas-financial-anti-corruption-drive-will-boost-confidence-long-term-analyst?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3324613/chinas-financial-anti-corruption-drive-will-boost-confidence-long-term-analyst?utm_source=rss_feed Sat, 06 Sep 2025 14:00:09 +0000 Zhang Shidong,Daniel Ren Zhang Shidong,Daniel Ren Yi Huiman, the former regulator of China’s equities market, is being investigated for disciplinary breaches, as the country’s long-standing anti-graft campaign extends into all corners of the financial industry, from banking to the stock market. Yi, the chairman of the China Securities Regulatory Commission (CSRC) from January 2019 to February 2024, is being investigated by the Communist Party’s disciplinary unit for severe breaches of discipline, according to the Central Commission for... https://www.scmp.com/business/article/3324584/china-places-former-stocks-regulator-yi-huiman-under-probes-disciplinary-breaches?utm_source=rss_feed https://www.scmp.com/business/article/3324584/china-places-former-stocks-regulator-yi-huiman-under-probes-disciplinary-breaches?utm_source=rss_feed Sat, 06 Sep 2025 03:23:00 +0000 China’s new financial regulator has made fresh pledges to increase regulatory transparency, stability and predictability, the latest of several attempts to restore investor confidence following a stock meltdown and high-profile personnel changes. The country will benchmark its financial policies against international rules and reduce restrictive measures to make itself more open and integrated with the global market, the Communist Party’s newly created Central Financial Commission (CFC) said in... https://www.scmp.com/economy/china-economy/article/3252580/chinas-new-financial-regulator-pledges-transparency-bring-investors-back-brink?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3252580/chinas-new-financial-regulator-pledges-transparency-bring-investors-back-brink?utm_source=rss_feed Tue, 20 Feb 2024 22:00:17 +0000 The Chinese securities watchdog’s new head, “Broker butcher” Wu Qing, has lost no time in tackling the turmoil that has rocked the country’s stock market, after it hit five-year lows this month, unveiling a slew of proposals aimed at reviving market confidence. The China Securities Regulatory Commission (CSRC) said late on Monday that its newly-appointed chairman Wu Qing led a host of meetings immediately after the Lunar New Year holiday to discuss topics around regulating and preventing risks... https://www.scmp.com/business/banking-finance/article/3252552/china-regulatory-chiefs-appointment-indicates-investor-confidence-market-reforms-are-top-agenda?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3252552/china-regulatory-chiefs-appointment-indicates-investor-confidence-market-reforms-are-top-agenda?utm_source=rss_feed Tue, 20 Feb 2024 07:38:21 +0000 China will have to do more to convince stock investors about the sustainability of the market rally spurred by recent rescue measures after some US$5 trillion of value had been erased over the past three years, according to fund managers. The measures aimed at propping up stocks alone are insufficient to sustain the rally that has led to the recovery of a combined US$377 billion of capitalisation on markets in the mainland and Hong Kong last week, according to Pictet Asset Management and Saxo... https://www.scmp.com/business/china-business/article/3251529/fund-managers-want-beijing-do-more-keep-us380-billion-rally-chinese-and-hong-kong-stocks-going?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3251529/fund-managers-want-beijing-do-more-keep-us380-billion-rally-chinese-and-hong-kong-stocks-going?utm_source=rss_feed Tue, 13 Feb 2024 23:30:22 +0000 China has appointed capital markets veteran Wu Qing to head the nation’s securities watchdog – a move that will place the nation’s US$8 trillion stock market under his supervision as one of several measures laid down by Beijing to blunt a downturn. Wu, who ran the Shanghai Stock Exchange between 2016 and 2017, has been appointed chairman and party chief of the China Securities Regulatory Commission (CSRC). He succeeds Yi Huiman, who had been in the position since 2019, state media Xinhua... https://www.scmp.com/economy/china-economy/article/3251281/china-wary-stock-market-downturn-appoints-new-regulatory-chief?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3251281/china-wary-stock-market-downturn-appoints-new-regulatory-chief?utm_source=rss_feed Wed, 07 Feb 2024 10:17:19 +0000 China’s state-run funds have stepped in to shore up stock prices amid speculation that the rout in the capital markets has got the attention of the nation’s top leader, as regulators struggled to overcome “uber-weak” confidence among global investors. The funds, often dubbed the “National Team,” have bought 70 billion yuan (US$9.8 billion) worth of local shares over the past month, according to an estimate by Goldman Sachs. State-owned companies and the central bank are among the likely players,... https://www.scmp.com/business/china-business/article/3251086/china-intervenes-post-covid-stock-rout-reaches-us5-trillion-and-regulator-heightens-scrutiny?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3251086/china-intervenes-post-covid-stock-rout-reaches-us5-trillion-and-regulator-heightens-scrutiny?utm_source=rss_feed Tue, 06 Feb 2024 05:44:45 +0000 Hong Kong stocks surged for a second day, fuelled by China’s decision to inject 1 trillion yuan (US$140 billion) of liquidity next month to spur lending and shore up market sentiment. Alibaba Group jumped by the most in six months on insider buying. The Hang Seng Index gained 3.6 per cent to 15,899.87 on Wednesday, adding to the 2.6 per cent rally on Tuesday from a 15-month low. The Tech Index jumped 4.2 per cent, while the Shanghai Composite Index rose 1.8 per cent, the most in over six... https://www.scmp.com/business/markets/article/3249559/hong-kong-stocks-extend-rebound-alibaba-jumps-5-insider-buying-china-vows-more-support-calm-market?utm_source=rss_feed https://www.scmp.com/business/markets/article/3249559/hong-kong-stocks-extend-rebound-alibaba-jumps-5-insider-buying-china-vows-more-support-calm-market?utm_source=rss_feed Wed, 24 Jan 2024 02:40:36 +0000 The China Securities Regulatory Commission (CSRC) has reduced the holding costs of mutual-fund investors in a bid to encourage more institutional participation and provide a boost to the nation’s 83-trillion-yuan (US$11.5 trillion) stock market, a laggard among the key benchmarks in Asia this year. Management fees charged by newly launched fund products will cost no more than 1.2 per cent, while the custodian-fee ratio will be capped at 0.2 per cent, according to the CSRC, which said on Saturday... https://www.scmp.com/business/china-business/article/3227019/chinas-securities-regulator-cuts-holding-costs-mutual-fund-investors-giving-boost-nations?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3227019/chinas-securities-regulator-cuts-holding-costs-mutual-fund-investors-giving-boost-nations?utm_source=rss_feed Sat, 08 Jul 2023 08:34:40 +0000 China Securities Regulatory Commission (CSRC) vice-chairman Fang Xinghai said he expects greater capital inflows to the mainland’s A-share market after talks with international asset managers to soothe their concerns about the potential for further US-China decoupling. Fang told reporters on the sidelines of the Lujiazui Forum in Shanghai on Friday that net inflows to the Shanghai and Shenzhen stock exchanges had reached 120 billion yuan (US$16.8 billion) so far this year, compared to 85 billion... https://www.scmp.com/business/china-business/article/3223590/csrc-vice-chairman-expects-more-foreign-fund-flows-shares-although-bleak-economic-outlook-could?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3223590/csrc-vice-chairman-expects-more-foreign-fund-flows-shares-although-bleak-economic-outlook-could?utm_source=rss_feed Fri, 09 Jun 2023 11:56:40 +0000 The head of China’s stock-market regulator sought to soothe investors on Thursday by encouraging them to turn to long-term value investing, a strategy that has made a comeback at the start of this decade after underperforming growth since the global financial crisis. The strategy of long-term value investing is the key to delivering stable returns in China’s 82 trillion yuan (US$11.5 trillion) stock markets, Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), said at the... https://www.scmp.com/business/china-business/article/3223386/chinas-securities-regulator-touts-long-term-value-investing-soothe-investors-amid-pessimistic-yuan?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3223386/chinas-securities-regulator-touts-long-term-value-investing-soothe-investors-amid-pessimistic-yuan?utm_source=rss_feed Thu, 08 Jun 2023 07:59:50 +0000 The Shanghai Stock Exchange is leading efforts to boost the valuation of state-backed banks, urging them to organise more investor relations events, and will ramp up efforts to develop index-based fund products, according to people familiar with the matter, as part of a government campaign to revalue China’s listed state-owned enterprises (SOEs). The exchange’s general manager Cai Jianchun outlined the proposals to executives from major publicly traded banks including Industrial and Commercial... https://www.scmp.com/business/china-business/article/3221131/shanghai-stock-exchange-roll-out-index-funds-urge-banks-enhance-investor-communications-boost?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3221131/shanghai-stock-exchange-roll-out-index-funds-urge-banks-enhance-investor-communications-boost?utm_source=rss_feed Fri, 19 May 2023 08:02:01 +0000 China’s new regulator will strive to oversee all types of financial activities and will seek to eliminate regulatory “blind spots” and “build up an iron wall of financial security”, its newly appointed party chief said at the body’s inauguration ceremony on Thursday. Li Yunze was appointed as the party chief of the new National Financial Regulatory Administration (NFRA) last week after the body was set up as part of a sweeping reform plan unveiled at the annual ‘two sessions’ in March amid its... https://www.scmp.com/economy/china-economy/article/3221004/chinas-financial-regulator-vows-cut-blind-spots-and-build-iron-wall-new-body-takes-shape?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3221004/chinas-financial-regulator-vows-cut-blind-spots-and-build-iron-wall-new-body-takes-shape?utm_source=rss_feed Thu, 18 May 2023 12:30:17 +0000 The pricing gap between the mainland China-listed and Hong Kong-listed shares of 150 dual-listed companies has ballooned to the highest level in five months as a frenzy over revaluation of China’s state-owned enterprises (SOEs) inflates yuan-traded shares. The mainland-listed A-shares of the 150 companies, including Industrial and Commercial Bank of China (ICBC) and China Mobile, commanded a 42 per cent premium over their counterparts in Hong Kong, known as H-shares, this month, the highest... https://www.scmp.com/business/china-business/article/3219761/euphoria-over-chinas-soes-ai-inflate-price-gap-stocks-listed-mainland-and-hong-kong-bourses-five?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3219761/euphoria-over-chinas-soes-ai-inflate-price-gap-stocks-listed-mainland-and-hong-kong-bourses-five?utm_source=rss_feed Mon, 08 May 2023 07:00:49 +0000 China’s top anti-corruption agency on Monday launched a new round of inspections into some of the nation’s leading financial institutions, in another indication of a coming regulatory storm. The probe, together with a recently announced regulatory shake-up in financial oversight, shows the urgency with which China’s new leadership team is seeking to defuse risks, including those at ailing small banks, which are often associated with corruption. Authorities are desperate to prevent financial... https://www.scmp.com/economy/china-economy/article/3215136/china-anti-corruption-probe-targets-top-banks-soes-beijing-races-defuse-financial-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3215136/china-anti-corruption-probe-targets-top-banks-soes-beijing-races-defuse-financial-risks?utm_source=rss_feed Tue, 28 Mar 2023 12:15:14 +0000 An overhaul by Beijing that places its top office overseeing Hong Kong affairs under the direct scrutiny of the Communist Party will lead to “more effective implementation of policies”, the city’s leader has said, insisting the move will not undermine the financial hub’s promised high degree of autonomy. Wrapping up his first official visit to ministries in Beijing, Chief Executive John Lee Ka-chiu also announced on Friday that his administration would consider expanding its talent visa scheme... https://www.scmp.com/news/hong-kong/politics/article/3213870/hong-kong-talent-scheme-city-consider-expanding-policy-allow-graduates-more-top-mainland-chinese?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3213870/hong-kong-talent-scheme-city-consider-expanding-policy-allow-graduates-more-top-mainland-chinese?utm_source=rss_feed Fri, 17 Mar 2023 06:46:18 +0000 China should use a variety of capital-market tools such as funding and restructuring to boost the valuations of publicly traded state-owned enterprises (SOEs), according to the general manager of the Shanghai Stock Exchange. Listed SOEs now trade at an average 14 per cent discount to book value, while the broader market is valued at a 60 per cent premium to net-asset value, Cai Jianchun told journalists in Beijing, according to media reports. This undervaluation risks eroding the ability of... https://www.scmp.com/business/china-business/article/3212661/china-must-boost-battered-valuations-seos-says-shanghai-stock-exchange-general-manager-proposal-two?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3212661/china-must-boost-battered-valuations-seos-says-shanghai-stock-exchange-general-manager-proposal-two?utm_source=rss_feed Tue, 07 Mar 2023 09:15:17 +0000 China’s three telecom operators, perennial value destroyers in stock markets, are no longer market laggards. Tailwinds from Beijing’s digitalisation plan and efforts to bolster global leadership in technology are giving Big Telcos a rare re-rating. China Telecom has risen 52 per cent this year in Shanghai trading, while China Mobile advanced 28 per cent, outpacing the 7.7 per cent gain in the Shanghai Composite Index. In Hong Kong, China Unicom appreciated 35 per cent, while the Hang Seng Index... https://www.scmp.com/business/china-business/article/3212403/chinas-big-telcos-go-value-destroyers-world-beaters-beijings-grand-tech-plan-triggers-rare-stock-re?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3212403/chinas-big-telcos-go-value-destroyers-world-beaters-beijings-grand-tech-plan-triggers-rare-stock-re?utm_source=rss_feed Sun, 05 Mar 2023 23:00:15 +0000 A high-profile appearance by senior financial cadres and He Lifeng, the head of China’s top economic planner, has reinforced market beliefs that he is poised to succeed Vice-Premier Liu He and help oversee the world’s second-largest capital market. Expectations are rife that He Lifeng will be appointed vice-premier during Beijing’s annual parliamentary meetings in March. This has raised speculations about whether the move would usher in major policy changes, as he has not publicly commented on... https://www.scmp.com/economy/china-economy/article/3208749/chinas-next-economic-tsar-central-bank-visit-he-lifeng-ramps-public-profile?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3208749/chinas-next-economic-tsar-central-bank-visit-he-lifeng-ramps-public-profile?utm_source=rss_feed Wed, 01 Feb 2023 12:30:09 +0000 Shares of mainland Chinese property developers surged on Wednesday as rumours emerged that the authorities are planning a raft of supportive measures for financially stable home builders. The Shanghai Stock Exchange Property Index jumped 3.5 per cent, while developers and suppliers rallied in Shenzhen. The rumours circulating online said the Chinese government is planning to offer support to developers that have weathered the debt crisis rocking the industry and emerged with healthy balance... https://www.scmp.com/business/article/3205563/mainland-chinese-property-shares-surge-rumours-authorities-will-back-financially-healthy-developers?utm_source=rss_feed https://www.scmp.com/business/article/3205563/mainland-chinese-property-shares-surge-rumours-authorities-will-back-financially-healthy-developers?utm_source=rss_feed Wed, 04 Jan 2023 10:28:42 +0000 Shares of Chinese state-owned companies surged on Tuesday after the country’s most senior financial regulator pledged to build “a capital market with Chinese characteristics” to better reflect the valuation of listed companies. “Valuation directly reflects the market recognition of a listed company,” Yi Huiman, chairman of the China Securities Regulatory Commission, said in a keynote speech in Beijing on Monday. “We will build a capital market with Chinese characteristics so the market can... https://www.scmp.com/business/china-business/article/3200583/state-owned-companies-surge-chinas-top-regulator-pledges-build-capital-market-chinese?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3200583/state-owned-companies-surge-chinas-top-regulator-pledges-build-capital-market-chinese?utm_source=rss_feed Tue, 22 Nov 2022 10:49:08 +0000 China needs to regard development as the No 1 priority and ensure a “reasonable growth” of the national economy in a persistent way, a senior economic official said, outlining goals for the next five years. The comments from Han Wenxiu, deputy director at the General Office of the Central Economic and Financial Affairs Commission, come amid market worries that China’s emphasis on high-quality development and common prosperity could sideline the decades-old priority for growth, with the current... https://www.scmp.com/economy/china-economy/article/3198611/chinas-no-1-priority-still-gdp-growth-senior-economic-official-asserts-amid-focus-common-prosperity?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3198611/chinas-no-1-priority-still-gdp-growth-senior-economic-official-asserts-amid-focus-common-prosperity?utm_source=rss_feed Sun, 06 Nov 2022 10:00:13 +0000 A bigger-than-expected reshuffle of economic and financial personnel unfolded at the just concluded Communist Party congress, as development security, tech self-reliance and common prosperity were adopted as new overriding guidelines to counter rising external uncertainties over the next five years. It has generated major questions over how the new team will shore up the slowing economy, handle spillover from US Federal Reserve rate hikes and grapple with the looming global... https://www.scmp.com/news/china/politics/article/3196897/economic-and-finance-shake-chinas-central-committee-heralds-new-era-face-global-uncertainty?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3196897/economic-and-finance-shake-chinas-central-committee-heralds-new-era-face-global-uncertainty?utm_source=rss_feed Sat, 22 Oct 2022 11:36:02 +0000 China and the United States signed an accord granting the US accounting oversight board access to Chinese audit data, ending an impasse that has wiped billions of dollars off Chinese stocks with the spectre of mass expulsion from US exchanges. The China Securities Regulatory Commission (CSRC) and the US Public Company Accounting Oversight Board (PCAOB) signed an accord on audit cooperation, the two bodies said separately on Friday. The US signed similar accords with France and Belgium in... https://www.scmp.com/business/article/3190226/chinas-regulator-agreeable-release-redacted-data-overture-resolve-us?utm_source=rss_feed https://www.scmp.com/business/article/3190226/chinas-regulator-agreeable-release-redacted-data-overture-resolve-us?utm_source=rss_feed Fri, 26 Aug 2022 01:27:35 +0000 China’s securities watchdog will work to stabilise the capital markets and prevent “abnormal fluctuations” as a period of high volatility continues, said its chairman. Yi Huiman, chairman of the China Securities Regulatory Commission, stressed the importance of “bottom-line thinking” in an article published on Monday in Qiushi, the Communist Party’s main journal on political theory. “It’s a rule that the market has ups and downs, and the government should not intervene in normal fluctuations,”... https://www.scmp.com/business/banking-finance/article/3187303/csrc-chinas-securities-watchdog-pledges-prevent-abnormal?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3187303/csrc-chinas-securities-watchdog-pledges-prevent-abnormal?utm_source=rss_feed Mon, 01 Aug 2022 08:41:26 +0000 A regulatory breakthrough is expected to slash costs for investors trading over-the-counter derivatives in China, the latest step in opening up the nation’s capital markets to foreign investors. A Chinese law that takes effect Monday enforces a mechanism used around the world for determining payouts if a derivative counterparty defaults, bringing the standards there in line with those used in other major markets. This recognition of so-called close-out netting is seen lowering the cost of... https://www.scmp.com/business/banking-finance/article/3187253/chinas-capital-market-creaks-open-wider-gamechanger-law?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3187253/chinas-capital-market-creaks-open-wider-gamechanger-law?utm_source=rss_feed Mon, 01 Aug 2022 02:58:02 +0000 Hong Kong and the United States will end the mutual recognition of audit work done by each other’s professional accountants because of a dispute over the admissibility of overseas experience, adding another wrinkle to a fraught relationship. The mutual recognition agreement with the US International Qualifications Appraisal Board (IQAB), first signed in 2011 and renewed in 2020, will no longer be effective when it expires on December 31, according to a statement by the Hong Kong Institute of... https://www.scmp.com/business/banking-finance/article/3179256/hong-kong-end-2011-mutual-recognition-pact-after-rejecting?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3179256/hong-kong-end-2011-mutual-recognition-pact-after-rejecting?utm_source=rss_feed Thu, 26 May 2022 09:15:17 +0000 China’s securities watchdog wants listed companies to repurchase their own shares and their major shareholders to support stock prices amid efforts by Beijing to stabilise the country’s sluggish stock markets. The China Securities Regulatory Commission (CSRC) encouraged company boards to repurchase shares and create stock incentives and ownership plans for employees to shore up sentiment, according to a statement issued late on Monday. The regulator indicated it will also look at stock and bond... https://www.scmp.com/business/banking-finance/article/3173959/chinas-securities-watchdog-renews-call-firms-buy-back?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3173959/chinas-securities-watchdog-renews-call-firms-buy-back?utm_source=rss_feed Tue, 12 Apr 2022 06:10:39 +0000 China’s securities regulator has renewed its pledges to widen investors’ access to the stock market and find ways to resolve an auditing dispute with the United States, delivering an overture to calm jittery nerves in the capital market amid a flare-up of the Covid-19 outbreak around the country. The world’s second-largest capital market will widen the so-called Connect cross-border investment channels between China’s two domestic exchanges and Hong Kong, to let investors trade commodities and... https://www.scmp.com/business/china-business/article/3173684/chinas-regulator-renews-pledge-widen-market-access-keep?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3173684/chinas-regulator-renews-pledge-widen-market-access-keep?utm_source=rss_feed Sat, 09 Apr 2022 07:11:01 +0000 China is edging closer to enacting a financial stability law that would fix the “scattered” set of rules currently used to handle financial risks. The People’s Bank of China (PBOC) published a draft law late on Wednesday aimed at establishing “institutional arrangements” to offset instability in the financial sector. The central bank said the existing legal framework “lacks overall design and cross-industry and cross-departmental arrangement”, while the relevant provisions are “scattered” and... https://www.scmp.com/economy/china-economy/article/3173455/chinas-draft-financial-stability-law-takes-aim-scattered?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3173455/chinas-draft-financial-stability-law-takes-aim-scattered?utm_source=rss_feed Thu, 07 Apr 2022 12:30:30 +0000 China’s securities regulator has proposed changes to key rules on Chinese companies listed abroad in a move that could ease a long-standing auditing dispute with the United States. In revised draft rules released on Saturday, the China Securities Regulatory Commission (CSRC) withdrew a requirement that only Chinese regulators conduct on-site audit inspections of Chinese companies listed overseas. The changes were made to “accommodate the new circumstances and developments concerning overseas... https://www.scmp.com/business/banking-finance/article/3172888/china-bring-down-audit-barrier-long-running-us-listing-row?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3172888/china-bring-down-audit-barrier-long-running-us-listing-row?utm_source=rss_feed Sat, 02 Apr 2022 14:03:29 +0000 The Securities and Exchange Commission (SEC) has added five New York-listed stocks to its latest list of companies liable under a US auditing oversight law, including four Chinese internet companies. Futu Holdings, iQiyi and Baidu are among the latest names identified under the Holding Foreign Companies Accountable Act (HFCAA), according to a March 30 statement by the SEC. Also on the list is Nocera, an agricultural services company based in Atlanta, and CASI Pharmaceuticals, which develops... https://www.scmp.com/business/article/3172545/us-china-accounting-war-sec-adds-baidu-futu-and-three-more-list-companies?utm_source=rss_feed https://www.scmp.com/business/article/3172545/us-china-accounting-war-sec-adds-baidu-futu-and-three-more-list-companies?utm_source=rss_feed Thu, 31 Mar 2022 06:22:41 +0000 The focus of China’s securities regulation next year will be maintaining stability while pursuing reform, the country’s securities chief has said. “Priority will be given to stabilising growth, fending off risks and advancing reform,” Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), told Xinhua in an interview. On the one hand, the CSRC will arrange efforts to ensure the stability of the market, policies and expectations, and on the other, it will seek advancement in... https://www.scmp.com/business/banking-finance/article/3161617/financial-stability-reform-will-be-top-priorities-next?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3161617/financial-stability-reform-will-be-top-priorities-next?utm_source=rss_feed Thu, 30 Dec 2021 13:52:43 +0000 China has doubled down on its de-risking campaign as the country’s economy faces strong headwinds, with “stability” being repeatedly stressed as the top priority in the nation’s economic policies. In a commentary piece published on the People’s Daily website on Sunday, “preventing and dissolving major risks” was described as “an essential requirement and bottom-line mission to ensure the stable and healthy development of the country’s economy”. “From a macroeconomic perspective, we should... https://www.scmp.com/economy/china-economy/article/3160428/chinas-capital-concerns-prompt-calls-prevent-disorderly?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3160428/chinas-capital-concerns-prompt-calls-prevent-disorderly?utm_source=rss_feed Mon, 20 Dec 2021 10:00:18 +0000 The Beijing Stock Exchange began trading on Monday, with three-quarters of 81 carefully selected stocks opening higher in their debuts, underpinning the Chinese president’s pledge to support small and medium enterprises that he has dubbed the “little giants” of the world’s second-largest economy. Sixty of the stocks advanced by between 0.2 per cent and almost 500 per cent when trading commenced, before the rally faded at the close of market. Shares of Henan Tongxi Transmission, a maker of... https://www.scmp.com/business/markets/article/3156046/beijing-stock-exchange-three-quarters-companies-debut-gains-chinas?utm_source=rss_feed https://www.scmp.com/business/markets/article/3156046/beijing-stock-exchange-three-quarters-companies-debut-gains-chinas?utm_source=rss_feed Mon, 15 Nov 2021 01:48:52 +0000 A special purpose acquisition company (SPAC) backed by a group of former Deutsche Bank and Morgan Stanley executives has agreed to buy Taiwanese smart scooter and electric battery maker Gogoro in a deal that values it at US$2.35 billion. Poema Global Holdings Corp, a US-listed blank-cheque company, will absorb Gogoro in a merger, allowing the Taipei-based firm to list on Nasdaq under the symbol “GGR” through the transaction, according to a statement. Taipei-based Gogoro was founded in 2011, and... https://www.scmp.com/business/banking-finance/article/3148981/gogoro-takes-spac-route-nasdaq-listing-deal-valuing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3148981/gogoro-takes-spac-route-nasdaq-listing-deal-valuing?utm_source=rss_feed Thu, 16 Sep 2021 08:55:19 +0000 A new bourse planned for Beijing could be a potential alternative for up-and-coming Chinese technology firms that might consider going public via special purpose acquisition companies (SPACs), particularly as China places greater scrutiny on overseas listings in the sector, according to an influential trade group and market observers. Unveiled by Chinese President Xi Jinping last week, the Beijing Stock Exchange is expected to carve out a group of innovative companies from the National Equities... https://www.scmp.com/business/banking-finance/article/3148366/beijing-stock-exchange-could-be-alternative-spac-listings?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3148366/beijing-stock-exchange-could-be-alternative-spac-listings?utm_source=rss_feed Tue, 14 Sep 2021 00:30:23 +0000 Chinese state-controlled funds should be the lead investors of the country’s internet companies to protect data security, an opinion piece published on Tuesday by the local Economic Information Daily said. The article argued that the China Structural Reform Fund, China Reform Holdings and the State Development and Investment Corp, among others, should take part in fundraising efforts from companies in the country that run internet platforms. If the controversial suggestion were taken seriously,... https://www.scmp.com/tech/policy/article/3144491/chinese-internet-firms-funding-should-be-led-chinese-investors-data?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3144491/chinese-internet-firms-funding-should-be-led-chinese-investors-data?utm_source=rss_feed Tue, 10 Aug 2021 09:00:14 +0000 Beijing has assured Chinese companies that the government remains open to and supportive of public listing overseas, according to a commentary by the official Xinhua News Agency on Wednesday, as authorities move to ease fears of rattled investors amid a broad crackdown on the country’s technology sector. “Some recent regulatory policy changes are related to overseas listing,” read the commentary, which acknowledged concerns in the market about uncertainties in China’s position on such public... https://www.scmp.com/tech/policy/article/3143059/beijing-assures-chinese-firms-it-remains-open-and-supportive-public?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3143059/beijing-assures-chinese-firms-it-remains-open-and-supportive-public?utm_source=rss_feed Thu, 29 Jul 2021 13:00:58 +0000 The Guangzhou Futures Exchange has formally kicked off the process of developing emissions derivative products, putting a vital pricing mechanism into place to spur China to meet President Xi Jinping’s goal of attaining carbon neutrality by 2060. The exchange, officially opened on Monday by Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC) in the Nansha district of the Guangdong provincial capital. The exchange is the fifth financial market place in China for trading... https://www.scmp.com/business/banking-finance/article/3130344/guangzhou-exchange-kicks-offering-hedge-carbon-emissions?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3130344/guangzhou-exchange-kicks-offering-hedge-carbon-emissions?utm_source=rss_feed Tue, 20 Apr 2021 13:00:21 +0000 The Shanghai Stock Exchange (SSE) said on Friday it is tightening scrutiny over corporate bond issuance, and has punished a brokerage for lax due-diligence in bond underwriting. The move comes after Chinese exchanges strengthened inspections on initial public offerings (IPOs), as regulators seek to limit financial risks while promoting growth of China’s capital markets. China has about US$4.5 trillion of outstanding corporate bonds, traded on the country’s exchanges and the interbank... https://www.scmp.com/business/banking-finance/article/3128086/shanghai-stock-exchange-tightens-corporate-bond-issuance?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3128086/shanghai-stock-exchange-tightens-corporate-bond-issuance?utm_source=rss_feed Fri, 02 Apr 2021 05:56:26 +0000 China faces the threat of foreign outflows from the second half of the year as rising borrowing costs in the United States drives investors out of emerging markets, according to a former adviser to China’s central bank. The potential for a reversal in capital inflows and a possible wave of bond defaults are two of the biggest risks facing the economy this year, Li Daokui, a former member of the People’s Bank of China’s monetary policy committee, said in an interview. The instability is being... https://www.scmp.com/economy/china-economy/article/3126560/american-rescue-plan-china-faces-foreign-outflows-threat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3126560/american-rescue-plan-china-faces-foreign-outflows-threat?utm_source=rss_feed Tue, 23 Mar 2021 05:32:36 +0000 China’s stock-market regulator is prioritising more institutional participation as one of its major tasks for next year, a move aimed at reducing market volatility associated with excessive speculation among retail investors. Expanding the size of stock-focused mutual funds and linking pension funds to the capital market have been highlighted on the to-do list for 2021, the China Securities Regulatory Commission (CSRC) said in a statement on its website. It was posted after its chief, Yi Huiman,... https://www.scmp.com/business/markets/article/3115118/china-prods-more-institutional-funds-stock-market-wean-punters-one?utm_source=rss_feed https://www.scmp.com/business/markets/article/3115118/china-prods-more-institutional-funds-stock-market-wean-punters-one?utm_source=rss_feed Wed, 23 Dec 2020 09:30:41 +0000