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In a draft revision to China’s central banking law, the yuan is specified as including “physical and digital forms.” (Photo by Eric Prouzet on Unsplash)
In a draft revision to China’s central banking law, the yuan is specified as including “physical and digital forms.” (Photo by Eric Prouzet on Unsplash)China’s central bank seeks to create the legal space for its upcoming state-backed digital currency in a proposal released Friday that would also ban all other digital currencies tied to the yuan.

An investor checks stock prices in a brokerage house in Beijing, China. (AP Photo/Mark Schiefelbein)
An investor checks stock prices in a brokerage house in Beijing, China. (AP Photo/Mark Schiefelbein)China’s top financial markets regulator is drafting new regulations aimed at curbing “excessive” record speculation on convertible bonds, as Chinese firms and investors increasingly turn to the hybrid asset in search of liquidity and returns.

A Chinese woman walks past a display promoting the STAR market in Beijing on Friday, July 19, 2019. (AP Photo/Ng Han Guan)
A Chinese woman walks past a display promoting the STAR market in Beijing on Friday, July 19, 2019. (AP Photo/Ng Han Guan)Stock exchanges in Hong Kong and mainland China are considering adding shares from Shanghai’s Nasdaq-style STAR Market to a program connecting the two bourses, a move which would open the board to foreign investors.

Laurence D. Fink, CEO of BlackRock, speaks at an economic summit a day before the China Development Forum in Beijing, China, March 24, 2018. (AP Photo/Ng Han Guan)
Laurence D. Fink, CEO of BlackRock, speaks at an economic summit a day before the China Development Forum in Beijing, China, March 24, 2018. (AP Photo/Ng Han Guan)BlackRock’s Chinese subsidiary is closing several private investment vehicles in order to comply with regulations as it focuses on its new mutual fund business in the country, Chinese financial publication Caixin reported on Thursday.

Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)
Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)Chinese fintech Ant Group received approval on Monday for the Hong Kong portion of its initial public offering, according to reports from Reuters and the South China Morning Post, a move that comes a month after it received regulatory consent to list in Shanghai.

China’s top finance officials introduced long-awaited reforms designed to improve risk management at its largest banks and shield the wider economy from another global financial crisis.

Amundi said Wednesday that it received the final clearance from Chinese regulators to begin its joint venture operations with Bank of China’s wealth management subsidiary, as the French company aims to make China one of its most important markets.

A Hong Kong regulator fined and reprimanded Everbright Securities for pledging its clients’ assets as collateral to obtain credit lines from banks and using client authorizations which had expired.

A Chinese financial regulator on Monday released draft rules aimed at reining in its rapidly growing online insurance market in part by requiring operating licenses for digital insurers.

Chinese auto insurance profits will likely take a hit from a fresh wave of regulatory reforms making payouts more expensive for carriers, despite the benefits from fewer accident claims in the pandemic, Moody’s said.

Tougher Hong Kong regulations for domestic insurance groups that operate internationally would strengthen their risk and capital management, Fitch Ratings said Monday.

China’s central bank issued new regulations on capital requirements and corporate governance for financial holding companies in a bid to prevent systemic financial risks, citing gaps in its supervision of the nation’s financial sector.

Financial regulators in China rolled out new draft rules to make it easier for foreign financial institutions to participate in its $15.4 trillion bond market, as the country continues to open itself up to global investors.

Citigroup’s China arm said on Wednesday that it has received a domestic fund custody license from Chinese regulators, making it the first U.S. bank to receive such a license.

BlackRock has received approval from Chinese securities regulators to set up a mutual fund company in China, another step forward in the U.S.-based firm’s quest to become a leading foreign asset manager in the country.

State-backed China Agricultural Reinsurance Company received approval to operate from the country’s banking and insurance regulatory, helping to bolster the availability of coverage for catastrophic events.

U.S. authorities filed a suit to seize 280 cryptocurrency accounts allegedly tied to North Korean hackers and their Chinese agents, in a bid to recover millions of dollars worth of stolen funds.

Hong Kong’s financial sector is seeing a rebound driven by a surge in fund inflows and initial public offerings, even as the city struggles to shake off the pandemic and controversy surrounding a new China-imposed security law.

Banking regulators in China have approved a joint wealth management venture between U.S. asset manager BlackRock, Singapore state investor Temasek Holdings and China Construction Bank as the nation continues to open its financial sector to foreign players.

China’s Supreme People’s Court said Thursday that it will significantly lower the ceiling for interest rates on private loans in an effort to support small businesses that rely heavily on nonbank lenders for capital.