..看监管(四)

中国版银保机构“生前遗嘱”落地，强调“自救为本”防范道德风险

（路透社 2021-6-9）

China's banking and insurance watchdog issued rules on Wednesday requiring sizable banks and insurers to prepare recovery plans in the unlikely event that they run into financial trouble, as the regulator seeks to strengthen the safety net of the country’s financial sector.

The goal for such plans, which are commonly known as “living wills” for financial institutions in some developed economies, is to make sure China's financial institutions don’t end up needing costly bailouts in the wake of risk events without contingency plans, and to maintain financial stability, the watchdog said.

Banks, rural credit cooperative and other deposit-taking institutions with consolidated assets at home and abroad of no less than 300 billion yuan ($46.96 billion) should prepare such recovery and resolution plans, the China's Banking and Insurance Regulatory Commission (CBIRG) said in a statement on its website.

Insurers with no less than 200 billion yuan of total on-book assets at home and abroad should also prepare such plans, it added.

The regulator added that eligible financial institutions should first make use of their own assets and ask for help from their own shareholders before turning to the government for support when running into trouble.

"They should prevent aggressive behaviour to shoulder too much risks, and prevent the moral hazard of over-relying on public rescues and support,” according to the statement.

A grace period will be given for the implementation of the rules, the CBIRG said, without stating specific deadlines.

中国警示金融衍生品风险

（彭博社 2021-6-10）

China’s top banking regulator warned retail investors to avoid financial derivatives, stepping up a bid to curb risks amid rising volatility in global commodities.

Investors that speculate in currency, gold or other commodity futures are set to pay the same heavy price as those betting that property prices will never fall, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission .

Speculation in derivatives by ordinary people “is tantamount to disguised gambling , and their outcome of losses is preordained ,” he said at the Lujiazui forum in Shanghai on Thursday.

With global commodities rising to records, Chinese government officials are trying to temper prices and reduce some of the speculative froth. Wary of inflating asset bubbles, the People’s Bank of China has also been restricting the flow of money to the economy since last year, albeit gradually to avoid derailing growth.

Guo defended China’s macroeconomic response during the pandemic. Criticism that it amounted to an inadequate contribution to global growth is based on “prejudice or misunderstanding,” Guo said. The policies helped maintain economic growth and avert a deeper global recession and its stable export prices are serving as an “anchor” to global inflation being fueled by money printing in developed nations, he said.

中国拟设立国民养老保险公司，..资本111.5亿元

（路透社2021-8-19）

China plans to set up a state pension company with registered capital of 11.15 billion yuan ($1.72 billion), a filing showed on Thursday, the latest step by the world's most populous nation to boost funds for its citizens' retirement.

Seventeen bank-affiliated wealth management units, insurers and state institutions will take stakes in the company, whose largest shareholders include the wealth management units of China's big five banks, each with a stake of 8.97%, the filing by the Insurance Association of China showed.

The new company will manage commercial pension funds, short-terni and long-tenn health insurance, and entrust yuan or foreign currency-denominated assets to other asset managers for retirement purposes, the filing showed.

To remedy growing pension shortfalls, China's Banking and Insurance Regulatory Commission (CBIRG) is considering endorsing a list of private pension fluids and appointing a group of professional managers to nui them under a new scheme, Reuters has reported.

The 17 finns, among them China's largest brokerage CITIG Securities Go, Taikang Life Insurance, and the investment arm of Beijing's State-owned Asset Supervision and Administration Commission, said they would use their own funds to invest in the new company instead of leveraged funds.