Improving the Modern Financial Regulatory System and Enhancing Financial Service Capabilities

January 30, 2023 | BY

Susan Mok

The Guidelines on Green Finance for Banking and Insurance Industries promulgated by the China Banking and Insurance Regulatory Commission along with the amended Measures for the Regulatory Assessment of Corporate Governance of Banking and Insurance Institutions set out more comprehensive rules applicable to banking and insurance institutions, as part of China's broader transition to a sustainable and resilient economy.

Summary

  • Guidelines on Green Finance for Banking and Insurance Industries promulgated by the China Banking and Insurance Regulatory Commission (CBIRC) along with the amended Measures for Regulatory Assessment of the Corporate Governance of Banking and Insurance Institutions set out more comprehensive rules applicable to banking and insurance institutions, as part of China's transition to a sustainable and resilient economy.
  • Banking institutions have clearer guidelines on the overseas loan business with the Circular on Matters Relevant to the Overseas Loan Business of Banking Financial Institutions issued by the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) coming into force, which promotes the financial service capabilities of banking institutions and echoes the "Go Global" strategy.
  • Preserve financial stability, develop mitigation mechanism for financial risk and facilitate the legislation of Financial Stability Law.

 

 

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