People's Bank of China

News & Analysis as of

Letter From America: Internal investigations – a stark reminder of the dangers of failing to implement strict protocols from the...

A recent ruling in long-running civil litigation against the Bank of China (“BOC”) in the United States District Court for the Southern District of New York provides a stark reminder of the dangers of failing to develop and...more

District court limits application of privilege in internal investigations

The Southern District of New York offered a strong rebuke to defendant Bank of China (BOC) in a discovery dispute, finding that documents created as part of an internal investigation into potential terrorist activities of a...more

China Regulator Proposes to Permit Designated Domestic Futures Contracts to be Traded by Foreigners

The China Securities Regulatory Commission (CSRC) is soliciting public comment on proposed rules (Interim Measures) that would open Chinese futures markets to direct trading by non-Chinese persons apparently for both...more

Is the RQFII Program En route to Australia?

Bank of China's Renminbi Settlement Service in Sydney - In late July this year, the Bank of China unveiled its Chinese Renminbi (RMB) Settlement Service in Sydney. The Settlement Service utilises the Australian Stock...more

Online Payments in China: Recent and Regulatory Actions

On March 13, 2014, People’s Bank of China (“PBC”) issued an opinion letter halting immediately the use of QR codes for payments using mobile phones (as distinguished from using QR codes at POS terminals) well as the use of...more

Mixed feelings: China censures bitcoin while Hong Kong embraces it

Last December, bitcoin prices plummeted by nearly half, after Chinese authorities banned all financial institutions and payment processor companies in China from engaging in bitcoin-related business, denominating prices in...more

PBOC Formulates Further Policy Initiatives to Promote RMB as an International Currency

On 2 December 2013, the People’s Bank of China (“PBOC”) issued its Opinions on Financially Supporting the Development of the China (Shanghai) Pilot Free Trade Zone (the “Opinions”). The Opinions represent latest steps...more

China State Council launched new financial coordination mechanism

On August 20, 2013, the China State Council approved the application from the People’s Bank of China (Central Bank) to launch a new financial coordination mechanism led by the Central Bank to reinforce regulation in the...more

China Finance Bulletin - August 2013: New PBOC Regulation Suggests Possible Liberalization of Outbound Security Provided by PRC...

On 5 July 2013, the People’s Bank of China (“PBOC”) issued the “Circular on Simplifying the Cross-Border RMB Business Procedures and Improving Relevant Policies”, the “Circular”). The Circular simplifies the regulatory...more

Banking & Finance Litigation Update - Issue 65 (European Union)

In This Issue: - Domestic Banking - Domestic General - European Banking - European General - International Banking - International General - Press Releases - Case Law - Excerpt from...more

Developments in Chinese Mobile and E-Payments

The year end is seeing many potentially significant developments in mobile and electronic payments in China. Several of these developments are noted below....more

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