Yi Gang, Governor of the People’s Bank of China (PBoC), provided a framework last Thursday at the Lujiazui Forum on how financial institutions could achieve the letting go of RMB 1.5 trillion of profits in order to support the country’s COVID-19 disrupted economy. Yi’s speech follows Premier Li Keqiang’s suggestion in May, in his annual work report for the National […]

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2019 was a long year for many in the region. The implementation of complex product suitability checks in Hong Kong occupied the first seven months of most private banking compliance staff, while the latter part of the year saw preparations for the anticipated economic downturn, not to mention the persistent US-China trade war and Hong Kong protests. Regulators in the […]

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The China State Council enacted the amendment of the PRC’s regulations on foreign-funded banks on Tuesday, allowing external financial institutions to set up branches or wholly-owned banks in the Mainland. As a further step in the broad direction of opening up the Chinese onshore financial market, Premier Li Keqiang signed the ‘Decision of the State Council on Amending the Regulation […]

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China will remove limitations on foreign firm ownership a year earlier than previously expected and expedite Foreign Investment Law-related regulations in a bid to facilitate the opening of its financial markets, according to Premier Li Keqiang who spoke at the World Economic Forum in Dalian on Tuesday. “We will move up the lifting of foreign ownership caps in securities and […]

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Investors monitoring China’s ‘two sessions’ should be “feeling good” about the nation’s economic future, says UBS Wealth Management, which has reiterated its overweight call for offshore Chinese equities. Expect strong EPS growth from offshore Chinese equities UBS Wealth Management remains overweight on offshore Chinese equities in its regional tactical asset allocation, showing a preference for “new economy” stocks and other […]

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Premier Li Keqiang announced in February that a Hong Kong-China Bond Connect scheme will be launched by 2017-end. Casual onlookers might assume that a weakening yuan does not make for an immediately attractive proposition, despite strong growth prospects. If only the demand for CNY bonds could be gauged before inflows are registered. Luckily, they can, with traffic growth suggesting that global banks are closely […]

The post AM Heat Map: Premier Li piques global investor interest in CNY bonds appeared first on Asian Private Banker.

With details forthcoming regarding China’s recent National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC), UBS Wealth Management expects the top priority on the policy agenda to achieving economic stability. Accordingly, the bank maintains its overweight on Chinese equities, but stays cautious on the risk of rate volatility in the bond market. Premier Li Keqiang delivered a series […]

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Deutsche Bank Wealth Management expects tighter monetary policy and more accommodative fiscal policy in China this year, after the country’s leadership signalled its economic objectives and policy focuses during the 2017 National People Congress (NPC). “A weaker yuan will loosen monetary conditions, which is likely to be countered with tighter controls on interest rates to preserve some stability,” the bank says […]

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China plans to kickstart the long-awaited stock connect scheme between Hong Kong and Shenzhen in 2016, the country’s premier Li Keqiang revealed today at the country’s annual parliamentary National People’s Congress. This will expand on the current trading link between Hong Kong and Shanghai that kicked off in November 2014 to great fanfare. Sentiment however, has soured since Chinese equities market […]

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Despite market volatility and uncertain, foreign investors are nonetheless optimistic about Asia as family offices from both the US and Europe accelerate investment efforts into the region, particularly in Hong Kong, experts observe. “We’ve worked with a number of European and American families that are setting up a family office operation in Asia to gain additional exposure to the region,” […]

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This article first appeared in Issue 91 of Asian Private Banker’s monthly print magazine, published in the first week of September 2015. Private banking is now where investment banking used to be two decades ago, says the head of a global private bank over coffee with Asian Private Banker.  Then, investment banking grew very rapidly because of the tremendous need […]

The post Crow’s Nest: China to drive private banking in Asia appeared first on Asian Private Banker.

China’s private banking sector will enter a new era over the next five years as “the pace of financial reform picks up on the mainland and wealth management undergoes rapid development”, says a joint report from China’s Industrial Bank and the Boston Consulting Group (BCG). This ties in with the fact that the number of UHNWIs with over 100 million yuan […]

The post Mainland private banking to see key changes in next 5 years, says study appeared first on Asian Private Banker.

Further expected negative developments in Malaysian markets have led Credit Suisse to downgrade its view on the ringgit while a stabilising yuan has motivated an upgrade. The third largest private bank in Asia by AUMs raises its point forecasts USD/MYR to 3.80 in three months and 3.95 in 12 months, retaining its negative rating on the currency. Expectation of a […]

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Despite less-than-hoped-for interest in the Hong Kong-Shanghai Stock Connect, a second through-train is expected within the next six months, this time involving Shenzhen. Comments from Chinese Premier, Li Keqiang, and general manager of the Shenzhen Stock Exchange, Song Liping, over the past few days, indicate that the Hong Kong-Shenzhen Connect is expected by the second half of the year, subject […]

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Despite its potential to be one of the world’s most lucrative markets, foreign fund managers in China are struggling to grow their market share and assets under management according to the third Foreign Fund Management in China survey report by consultancy major PwC. Regulatory constraints and limited distribution channels were the primary concern for foreign asset managers in China while […]

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