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Total assets of foreign banks, insurers in China top 5 trillion yuan
Total assets of foreign banks and insurers in China had exceeded 5 trillion yuan (about 702.2 billion U.S. dollars) amid the expansion of a two-way opening-up of the banking and insurance sector, the country's top banking regulator said on Monday.
Singaporean bank DBS receives bond settlement agent license in China
DBS Bank (China) Limited has received its bond settlement agent license from the People's Bank of China to act as a bond settlement agent in the China interbank bond market, the company said.
China encourages foreign-invested banks to underwrite local gov't bonds
Local governments will be guided to revise rules to allow foreign-invested banks underwriting bonds issued by them as part of the country's financial market opening-up, the Ministry of Finance said.
Foreign-funded banks, insurers post expanding China presence
Foreign-funded banks and insurers have reported a bigger presence in the Chinese market as the country continuously increased efforts on financial opening-up and improving the business environment, said the banking and insurance regulator.
Foreign-funded banks expected to get A-class lead underwriter qualification for debt financing tools
Chinese central bank and National Association of Financial Market Institutional Investors (NAFMII) are researching over expanding business scope of foreign-funded banks to enlarge opening up of the financial services sector, reported the Xinhua-run Shanghai Securities News.
Italian UniCredit fined over RMB10 million in China
The Shanghai Banking Regulatory Bureau Tuesday fined UniCredit S.p.A. 10.3 million yuan for multiple violations, including improper practices in wealth management and employee management, according to the Xinhua-run newspaper Economic Information Daily.
Economic Watch: China mulls further opening up financial markets
China plans to unveil a slew of new measures to further open up its financial markets in order to improve the sector's management and competitiveness, according to the country's top banking and insurance regulator.
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