PBoC Tag

15 Mar Tencent Faces Record Fine for Anti-Money-Laundering Violations

Posted at 17:56 by Lexy Li

Tencent’s [0700:HK] mobile payment business WeChat Pay could face a record fine for violating the PBoC’s anti-money-laundering rules, as reported by Wall Street Journal on March 14. The exact amount of fine is currently being discussed, but it is likely to exceed hundreds of millions...

17 Feb INSIGHTS | Climate Risk Stress Testing in the Banking Industry

Posted at 15:40 by Helena Zhu

Stress testing is not an unfamiliar term to the financial sector. Ever since the global financial crisis, financial institutions have used stress tests as a key tool for assessing risks and resiliency of the financial system as well as individual institutions. With climate change increasingly...

09 Nov PBoC Launches Lending Tool to Support Carbon Emission Reduction

Posted at 14:24 by Helena Zhu

China’s central bank PBoC launched a new monetary policy tool to incentivize lending for carbon emission reduction activities on November 8, as reported by Caixin on November 9. The new policy tool mandated that interest rates for carbon emission reduction loans should be close to...

27 Jul PBoC Deputy Governor States to Guide Pension Funds into ESG Investing

Posted at 16:40 by Maria Ma

Deputy governor of PBoC, Fan Yifei, indicated that the central bank will guide pension funds and other long-term funds into ESG investing with an aim to diversify capital sources of the domestic green bond market, according to Xinhuanet on July 26. At the Global Wealth...

11 Jun PBoC Issues Green Finance Assessment Plan for Banking Institutions

Posted at 14:48 by Jingyun Liu

PBoC issued a green finance assessment plan for banking financial institutions on June 9, as reported by Shanghai Securities News on the same day. The plan refers to a comprehensive assessment of banking institutions’ green finance businesses, based on which PBoC will implement incentives or...

09 Jun PBoC to Introduce Mandatory Disclosure of Climate-related Information

Posted at 14:35 by Jingyun Liu

PBoC plans to implement mandatory disclosures of climate and carbon emission information, and further improve the classification of green bonds in collaborations with the EU and the US, said Governor Yi Gang at a conference hosted by the Bank for International Settlements (BIS), as reported...

20 May CBA Establishes a Carbon Neutrality Working Group for Banking Institutions

Posted at 11:07 by Jingyun Liu

China Banking Association (CBA) has established a working group for Chinese banking institutions to support the goal of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, said Deputy Secretary General of CBA Guo Sanye, as reported by China Finance Online on May...

28 Apr Yi Gang: PBoC Will Increase Support for Green Finance and Emission Reduction

Posted at 16:52 by Jingyun Liu

PBoC will increase green bonds in foreign exchange reserves, limit investments in high-carbon assets, and include climate-related factors in the risk management framework, said PBoC Governor Yi Gang at the Boao Forum for Asia Annual Conference 2021 in Hainan province, as reported by Caixin on...

14 Apr Chinese Financial Authorities Hold Regulatory Talks with Ant Group Again

Posted at 14:28 by Ningjing Liu

China’s major financial authorities, including PBoC, CBIRC, CSRC, and SAFE, summoned Ant Group for another regulatory talk with Ant Group on April 12, as reported by Caixin on the next day. According to Pan Gongsheng, PBoC’s deputy governor, the talk, echoing the country’s recent efforts...

31 Mar Chinese Financial Regulators Require to Improve Credit Rating Quality for Bonds

Posted at 15:50 by Cici Luo

PBoC, NDRC, the Ministry of Finance (MoF), CBIRC, and CSRC jointly drafted a notice on promoting the high quality and healthy development of the credit rating industry in the bond market for public consultation on March 28, as reported by Caixin on March 29. The...

23 Mar Yi Gang: PBoC to Incorporate Climate Change into Policy Framework

Posted at 13:35 by Ningjing Liu

Yi Gang, governor of PBoC, stated at a roundtable discussion that the central bank is currently planning to incorporate climate change factors into its policy framework, as reported by Caixin on March 21. Specifically, PBoC is looking into the possibilities for running climate stress tests...

02 Mar China, US Become Co-Chairmen of G20 Re-established Sustainable Financial Study Group

Posted at 14:09 by Zoe Zhou

The G20 re-established the Sustainable Finance Study Group (SFSG) for preventing finance risks caused by climate change, and supporting disclosures of climate-related information, as reported by Caixin in February 28. The co-chairmen of SFSG are China’s PBoC and the US Department of the Treasury, which...

28 Jan PBoC to Propose New Anti-Monopoly Rules for Non-Banking Payment Industry

Posted at 09:23 by Haiyan Luo

PBoC has drafted regulation to strengthen supervision over non-banking institutions’ payment services on January 20, as reported by JRJ.com on the same day. Notably, the policy this time adds anti-monopoly measures for the non-banking payments industry. Moreover, the regulation highlights the requirement of non-banking payment...

13 Jan PBoC Drafts New Regulations on Credit Investigation Business

Posted at 09:58 by Haiyan Luo

PBoC issued draft measures on January 11 to regulate domestic credit investigation agencies and prevent such agencies from collecting excessive information from individuals, as reported by Eastmoney on January 12. The measures specify rules for credit reporting agencies to collect, organize, save, and process personal...

07 Jan CBIRC, PBoC Drafts Regulations on Internet Deposits Business

Posted at 15:58 by Una Qu

CBIRC and PBoC recently formed guidelines for commercial banks to conduct individual deposits businesses via the internet, and will publish related information to the public afterward, according to a CBIRC official, as reported by Caixin on December 31. The official indicated that CBIRC will support...