On 3 May 2011 the China Banking Regulatory Commission (CBRC) published its Guidelines for Implementing New Regulatory Standards in the PRC Banking Industry ('China's Basel III'). As a result, Chinese banks will have to fully implement the new standards before the official end-2018 deadline for...

The third BRICS summit was held on 14 April 2011 in Sanya on Hainan Island, China. The four original members, Brazil, Russia, India and China, were joined by South Africa. Following the summit, the members issued a joint communiqué ("Sanya Declaration"). The BRICS have continued to increase...

One of the main aims of China's 12th Five-Year Program, which covers the period 2011-15, is to make Chinese industry more competitive. In order to achieve this, six key sectors have been designated for merger and restructuring, while seven have been designated for the creation of strategic new...

On 13 December 2010, the Shanghai Stock Exchange announced its "Shanghai Stock Exchange Strategic Plan (2011-2020)." One of the plan's key short-term goals (for 2011-2013) is the establishment of an overseas section. It will be interesting to see whether the Shanghai Stock Exchange can overcome...

The China Securities Regulatory Commission plans to establish new laws and regulations, as well as revise existing laws, governing the creation of OTC markets, mutual funds, futures transactions, the oversight of listed companies, and a judiciary system. This process of establishing a legal...

On 30 January 2012, China's National Development and Reform Commission published its Blueprint for the Construction of Shanghai International Financial Center during the 12th Five-Year Plan Period. The Shanghai Municipal Government aims, amongst other things, to establish a center for...

At one time, inward direct investment in China was only possible using foreign exchange. Since the ban on using the renminbi to settle trade transactions was lifted in July 2009, however, restrictions on the use of the renminbi for inward direct investment have also been lifted on a trial basis...

At a summit meeting in December 2011, China and Japan agreed to improve cooperation on developing their financial markets. The agreement covers the settlement of cross-border trade and investment using the two currencies, the direct exchange of the two currencies, the purchase of Chinese...

China Investment Corporation (CIC) achieved a return of 11.7% on its overseas assets (global portfolio) in 2010. In the same year, it made $35.7 billion of new investments and continued to make direct investments in resource and energy projects. In addition, it reorganized its investment...

On 17 September 2012, China's State Council announced its 12th Five-Year Plan for the Development and Reform of the Financial Industry, covering the period from 2011 to 2015. The Plan includes two numerical targets for China's financial sector to achieve by 2015, and posits the opening up of the...