Advocacy Actions
Roundtable with DG Mu Changchun of the PBOC's Digital Currency Institute
The discussion centered on onshore and offshore usage of the E-CNY. DG Mu updated members on the roll out of the E-CNY and assessment of the pilot project ahead of the Beijing Winter Olympics 2022. He also detailed a little bit on regulation and standards required for the E-CNY. Other topics briefly discussed included bank deposits and digital regulation.
Read moreSubmitted comments to Shanghai Municipal Regulatory Financial Bureau on the Interim Measures for the Supervision and Administration of Shanghai Financial Leasing Companies (Draft for Comments)
The Measures aim to regulate the operation of financial leasing companies in Shanghai, strengthen the supervision and management, prevent and reduce risks, and promote the sustainable and healthy development of the industry, and be in accordance with the "Company Law of the People's Republic of China" and "Shanghai Local Financial Supervision and Administration Regulations" and the “Market Access Negative List” issued by National Development and Reform Commission(NDRC) and the Ministry of Commerce (MOFCOM), and “Interim Measures for the Supervision and Administration of Financial Leasing Companies (Yinbaojianfa [2020] No. 22) “ issued by the China Banking and Insurance Regulatory Commission (CBIRC).
Read moreSubmitted Comments to PBOC on the Measures for the Management of Credit Investigation (Draft for Comments)
The Measures seek to improve the transparency of credit investigation business activities, protect the legitimate rights and interests of information subjects, and promote the legal and compliant use of credit information among information providers, credit investigation institutions and information users.
Read moreChief Negotiator for CAI debriefs European Chamber representatives on the Agreement
On 5th January, Chief Negotiator for the Comprehensive Agreement on Investment (CAI) Ms Maria Martin Prat and her team debriefed a group of Chamber industry representatives on the key points of the Agreement.
Read moreMeeting with PBOC - China Financial Standardisation Technical Committee (CFSTC)
The China Financial Standardization Technical Committee (CFSTC, SAC/TC 180) is a technical organization authorized by the Standardization Administration of the P. R. C. (SAC). CFSTC is a technical organization engaged in nationwide standardization in the financial sector and is responsible for the centralized management of standardization technology in the financial industry and for domestic work related to ISO/TC 68 and ISO/TC 222. The Standardization Administration of the P. R. C. has entrusted The People’s Bank of China to lead and manage China Financial Standardization Technical Committee. There are three sub-committees affiliated to CFSTC covering securities, insurance, and printing standardization, respectively.
Read moreConference-call with CBIRC on Cross-selling Insurance Products
Many foreign insurance companies do not hold a cross selling qualification in China, whereas in the past, foreign insurance companies that have obtained this qualification only aim at selected business lines. As old-style applications for cross-selling licenses were stopped while back members have been in a kind of vacuum on this matter. In this conference-call, the progress on re-open applications for cross-selling of insurance products for insurance companies was discussed. It was also discussed what consumer finance companies and auto finance companies that wish to act as an intermediate of insurance and expect to see in terms of regulatory developments.
Read moreEuropean Chamber Shanghai Chapter Zhejiang Government Dialogue on Fintech
European Chamber Shanghai Chapter Zhejiang Government Dialogue on Fintech
Read moreComments to the National People's Congress Standing Committee on the Personal Information Protection Law (Draft for Comments)
On 19th November, the European Chamber working groups submitted comments on the Personal Information Protection Law (draft) to the National People's Congress Standing Committee.
Read moreWG Meeting with Director General Mr. Mu Changchun, Digital Currency Institute, People’s Bank of China on Digital Currency and Fintech
On 28th August, the Consumer Finance & Non-Banking Financial Institution WG organised a meeting for members to hear directly from Director General Mr. Mu Changchun of the Digital Currency Institute, People’s Bank of China.
Read moreLobby Letter to Shanghai Municipal Financial Regulatory Bureau on industry concerns faced by European leasing companies operating in the city
The letter is a follow up action to the meeting held between working group representatives and bureau officials on 24th April. The letter was sent to Mr. Chen Wei, Director of Regulation Department II detailing concerns raised during the April meeting and providing insights into European leasing 'Best Practice'.
Read more