Peoples Republic Of China Financial Sector Assessment Program
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| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2018-06-26 |
| Genre | : Business & Economics |
| ISBN | : 1484363809 |
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This Technical Note analyzes financial stability issues related to financial market infrastructures (FMIs) in China. Since the previous Financial Sector Assessment Program, the supervision and oversight of FMIs has strengthened through the adoption of the CPSS–IOSCO (Committee on Payment and Settlement Systems/International Organization of Securities Commissions) Principles for FMIs (PFMI). The public adoption of the PFMI by the authorities in 2013 and the establishment of an interagency platform to assess FMIs are commendable. Full implementation of the principles by FMIs is the next step and is expected to enhance the resilience and stability of the FMIs.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 126 |
| Release | : 2011-11-14 |
| Genre | : Business & Economics |
| ISBN | : 1463924542 |
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This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success and rapid growth, China’s financial sector is confronting several near-term risks, structural challenges, and policy-induced distortions. A properly composed and timely implemented set of reforms would help address these challenges. A framework to resolve weak financial institutions on a timely basis is also needed.
| Author | : International Monetary Fund |
| Publisher | : |
| Total Pages | : |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
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China has made significant progress in financial inclusion. High levels of account penetration, savings, and usage of payments services have been achieved, largely due to extensive branches and access points (particularly a vast network of rural cash withdrawal points), innovations by non-bank payment providers, and expansion of government-to-person transfers and bankcard programs. Account penetration in China is quite high, with estimates ranging from over 80 to 90 percent, which compares well to the EAP regional average but is lower than the high-income country average. The rapid growth in fintech has led to millions of previously underserved mass retail consumers accessing lower cost and better tailored financial products and services.
| Author | : International Monetary Fund |
| Publisher | : |
| Total Pages | : |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
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China's landscape for Financial Market Infrastructures (FMIs) is one of the largest and most complex in the world. It consists of a range of payment, clearing and settlement systems, including several interbank payment systems, securities settlement systems and central counterparties (CCPs). Many of the systems have high volumes by international comparison and are systemically important at a national level. Disruptions, both operational and financial, in one of these FMIs may significantly impact the functioning of the Chinese economy. The landscape is subject to changes, following international developments, such as the establishment of a cross-border interbank payment system (CIPS) and a CCP for over-the-counter derivatives. The development of new, innovative products, for example, in the area of internet payments, is changing the landscape further.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 98 |
| Release | : 2017-12-26 |
| Genre | : Business & Economics |
| ISBN | : 1484335155 |
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This paper presents an assessment of the level of observance of the Insurance Core Principles (ICPs) in China. Overall, the Chinese regulatory system is assessed to have a good level of compliance with the ICPs. The regulatory framework includes, in addition to the solvency standards, extensive requirements on corporate governance, risk management and internal controls as well as on reinsurance, disclosure and conduct of business. All these requirements are applied appropriately to the significant number of large insurance groups, which together account for the bulk of premium income. However, there is scope for further development of crisis preparedness and market conduct work.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 270 |
| Release | : 2017-12-26 |
| Genre | : Business & Economics |
| ISBN | : 1484335228 |
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This paper presents an assessment of the level of observance of the Basel Core Principles for Effective Banking Supervision (BCPs) in China. The China Banking Regulatory Commission (CBRC) has maintained its momentum in regulation and supervision in the face of exceptional growth in scale and increasing complexity of the banking system. The CBRC has also achieved a high degree of compliance with the BCPs. However, several dimensions of credit risk, including treatment of problem assets, concentration risk and related party exposures have aspects in which they lag international best practices and standards. Failure to resolve these issues may hamper the CBRC in its task of assessing the nature and scale of credit risk in the system and within individual institutions.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 27 |
| Release | : 2018-06-26 |
| Genre | : Social Science |
| ISBN | : 1484363795 |
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This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for China in the areas of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). The Chinese authorities have taken significant measures to enhance the AML/CFT legislative and regulatory framework since the 2007 Mutual Evaluation Report and have continued after the completion of the 2012 Mutual Evaluation follow-up report to take additional steps to bring the AML/CFT regime in line with the revised Financial Action Task Force standard. Continuing to implement these initiatives will strengthen the AML/CFT regime going forward. The authorities should also prioritize the completion of the National Risk Assessment.
| Author | : Internationaler Währungsfonds |
| Publisher | : |
| Total Pages | : |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
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The authorities' vision o ...
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 127 |
| Release | : 2014-07-17 |
| Genre | : Business & Economics |
| ISBN | : 1498377793 |
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This Technical Note on Stress Testing the Banking Supervision was prepared in the context of the Financial Sector Assessment Program (FSAP) for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). Bank liquidity tests focus on sudden, sizable withdrawals of funding and the sufficiency of existing assets to withstand those shocks under stressed conditions. The stress test results confirm a high degree of resilience of the sector. This reflects the strength of the banks at the starting position, which reduces their fundamental vulnerability to shocks. Banks in HKSAR hold very high levels of capital, are very profitable, and have a low level of asset impairments amid stable funding profiles. The Hong Kong Monetary Authority is encouraged to continue its integration of risk-based supervision in the development of stress test scenarios for macroprudential policy and surveillance. Banking supervisors routinely conduct stress tests and, from time to time, modify relevant assumptions in order to support thematic reviews of identified vulnerabilities against emerging risks.
| Author | : International Monetary Fund. Monetary and Capital Markets Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 288 |
| Release | : 2017-12-26 |
| Genre | : Business & Economics |
| ISBN | : 1484335309 |
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This paper presents an assessment of the level of observance of the IOSCO Objectives and Principles of Securities Regulation in China. The regulatory framework and supervisory program for the securities markets is largely compliant with the IOSCO Principles. Since 2010, the authorities have implemented several initiatives aimed at protecting China’s very large retail investor population. On the China Securities Regulatory Commission (CSRC) side, this includes strengthening the suitability requirements for intermediaries, investors’ ability to exercise their rights, and its investor education program. The CSRC has also expanded authorized activities for some categories of securities intermediaries with the objective of developing an investment banking culture to help capital markets serve the real economy better.
