The CFSTC is hoping to engage with members of the European Chamber’s Financial Services Working Groups to better understand foreign companies’ work on financial standardization and within the European Union as well as opinions of European companies in China on how China's national financial standards, industry standards, group standards and enterprise standards impact their daily practical work.

• 2020-12-22 | 09:00 - 11:00
• European Chamber Office Beijing, 4th Floor, Room C405

To celebrate the accomplishments of the past two decades, the European Chamber’s Insurance WG and Non-Banking Financial Institutions WG are delighted to bring together members for a pleasant evening of good wine, food and light conversation.

• 2020-12-09 | 18:00 - 20:00
• Via Roma Restaurant, Kempinski Hotel Beijing Lufthansa Center

Compared with traditional commercial bank customers, consumer finance customers and auto finance customers have a higher credit risk: they are more vulnerable, and more likely to default and obtain bad personal credit records. At the same time, these customers might be unfamiliar or do not proactively seek the security net that insurance provides. Meanwhile, insurance groups and holding companies strive to bring synergies to their markets by cross-selling between life insurance, health insurance and P&C companies, which requires them to obtain the qualification of cross-selling each other’s products in China. Many foreign-owned insurance companies do not have this cross-selling qualification, and those that do have obtained it in the past only for selected business lines. Meanwhile, draft regulation for commercial banks to cross-sell insurance has been released. In addition, consumer finance companies and auto finance companies seek to act as insurance agents in the same way that banks do. To successfully compete in the market, insurance companies, consumer finance companies and auto finance companies must be enabled to apply for this qualification.

• 2020-12-09 | 16:30 - 17:45
• European Chamber Office Beijing, 4th Floor, Room C405

During August, the European Chamber, along with the US-China Business Council and the Japan External Trade Organization (JETRO), participated in an anonymous survey based on an annual research project financed by the influential Chinese think thank CF40 (China Finance 40 Forum) and conducted by CASS (the Chinese Academy of Social Sciences). This year the project was focused on shredding light on the difference in perceptions between China’s regulators and foreign financial institutions when it comes to the opening up, underlining that there is a big gap. On one hand, China’s officials think they make great efforts to push forward the financial opening. On the other hand, foreign financial institutions feel limited improvement and wish the opening could bring more impactful changes.

On this basis, CASS has now published the report at the second Shanghai Bund Summit and are delighted to share the results with members of the European Chamber’s Financial Services Working Groups. At this meeting, Mr. Qiyuan Xu, Senior fellow, Head of Economic Development Department and Deputy Director of RCIF (Research Center of International Finance) at CASS will present the report.

• 2020-11-24 | 16:00 - 17:30
• European Chamber Office Beijing, 4th Floor, Room C405

The European Chamber is delighted to invite you to our joint working group meeting on the latest updates on business compliance in data and personal information regulations by having an outlook on Personal Information Protection Law (Draft) in China and EU's Schrems II Judgement with Ms. Ying Jiang from LEGO and Dr. Ralf Sauer from DG JUST, the European Commission.

• 2020-11-05 - 2020-11-05 | 15:15 - 16:50
• European Chamber Beijing Office C405, Zoom

The European Chamber’s Financial Services Working Groups (Banking & Securities WG, Consumer Finance & Non-Banking Financial Institutions WG and Insurance WG) are delighted to invite you to the Joint Working Group Meeting “Financial Services Joint WG meeting: Work Session & Feedback to EUD ahead of CBIRC and CSRC Seminar” which is to take place on Wednesday 16th September 2020, 10:00-11:30AM CST.

• 2020-09-16 | 10:00 - 11:30
• Beijing and Shanghai offices

Recently, the PBoC has confirmed it will pilot its central bank digital currency (CBDC) in a number of districts and plans to roll it out at the Beijing Winter Olympics in 2022, and the PBoC’s Digital Currency Research Institute confirmed “closed pilot tests” would be conducted in Shenzhen, Suzhou, Xiong’an New District and Chengdu.

In addition, the Chinese government has been strictly regulating fintech business over the last few years. Detailed policies and guidance have been introduced to support the continuous growth of fintech business and to ensure that it is under proper supervision. Consequently, many small fintech companies have been wiped out of the market because of the increasing compliance cost, while big ones have survived. Meanwhile, the government encourages financial institutions to adopt new information technologies. The People’s Bank of China (PBOC) released the Fintech Development Plan (2019–2021) which states the national framework policy for the development of fintech business. The Plan encouraged the development of fintech solutions by using various digital technologies and fintech business will be regulated in a “prudent” manner in order to control the risks associated with information security, transaction security and business continuity. In this context, small P2P lending platforms died out, while bigger and more prudent players continued to grow. Specialised technology companies, including those which provide IT solutions to financial institutions, are developing fast.

• 2020-08-28 | 14:30 - 15:45
• Zoom meeting (online or via call in) /European Chamber Office Beijing, 4th Floor, Room C405

E-signature has become an important formality vehicle for entering into commercial contracts worldwide. What are e-signature’s implication and enforceability in Chinese commercial and judicial world? The European Chamber is delighted to invite you to our next working group meeting where Mr. HE Fang, partner of King & Wood Mallesons will present on the e-signature and Chinese e-signature law by sharing some real-life court cases.

• 2020-07-03 | 10:00 - 11:30
• Online (ZOOM) & Onsite(Beijing Chamber Office)

At this meeting, Andrew Polk, Co-Founder and Partner, Trivium and Long Chen, Co-Founder and Partner, Plenum will present their understanding of the opening up of the Chinese financial sectors, and the great uncertainty seen in the first half of 2020. They will also offer their insight on how consumer finance and insurance providers and banks can navigate the current hybrid regulatory environment.

• 2020-06-17 | 09:00 - 10:30
• Zoom meeting (online or via call in) /European Chamber Office Beijing, 4th Floor, Room C405

The European Chamber’s Consumer Finance & Non-Banking Financial Institutions Working Group and Cosmetics Working Group are delighted to invite you to the Joint Working Group Online Meeting “E-Signature, the Answer to Continued Business Operations amid Covid-19? Part I” which is to take place on Wednesday 13 May 2020, 14:30-15:30 pm CST.

• 2020-05-13 | 14:30 - 15:30
• Zoom Online Meeting Platform, only pre-registered participants