日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Stocks rally as PBOC policy gets deferral

By Zhou Lanxu | China Daily | Updated: 2020-08-04 06:59
Share
Share - WeChat
Investors check share prices at a securities brokerage in Shanghai. [Photo/China News Service]

Chinese stocks closed higher on Monday as investor confidence brightened on the nation's deferral of the deadline to comply with revamped asset management rules, analysts said.

They called the deferral a reasonable move to deal with disruptions from the COVID-19 pandemic, adding that it will help smooth the transformation of asset management services and facilitate the financing of real-economy businesses.

The benchmark Shanghai Composite Index jumped by 1.75 percent, closing at 3,367.97 points on Monday. The smaller Shenzhen Component Index rose by 2.4 percent to 13,964.56 points.

The rally came after the People's Bank of China, the central bank, announced late on Friday that the country will extend the transitional period for the implementation of the new asset-management rules by one year to the end of 2021.

The rules, unveiled in April 2018, require financial institutions to revamp their asset management services to comply with a series of new regulations by the end of the transitional period, which originally fell at the end of this year.

The rules aim to eradicate principal-protected wealth management products-which at times have proved risky despite their name-as well as to reduce investment in nonstandardized assets and contain financial risks.

Due to the COVID-19 pandemic, however, the revamping task, which entails debt repayment, has faced mounting difficulties partly because some businesses that have struggled to survive the contagion may need to defer repayment, the PBOC said.

"Extending the transitional period as appropriate will alleviate the blow of the epidemic on the asset management sector and the pressure on financial institutions from the revamping task," said a PBOC statement, adding that the move will also facilitate financing for the real economy.

"If financial institutions drastically downscaled noncompliant wealth management products this year, financial risks could surge and hit the real-economy businesses relying on those products to obtain financing," said Dong Ximiao, chief analyst at XWBank, an online-only bank based in Sichuan province.

As the deferral eases the pressure faced by the real economy and financial institutions, it will help safeguard financial stability and spur healthy development of the capital market, said Kang Chongli, deputy dean at the research institute of Yuekai Securities in Guangdong province.

The extension will also avoid a bump in the disposal of noncompliant products from selling off a large amount of equity assets and putting pressure on the stock market, Kang said, adding that the move is "realistic" and in line with market expectations.

The PBOC statement added that the asset management industry has become healthier, with risks substantially contained since the new rules were released in 2018. The extension does not involve any adjustments of regulation standards of the rules, nor does it indicate a shift in direction of asset-management business reform, it said.

Financial regulators will supervise progress of financial institutions' reform tasks on a quarterly basis, the central bank said. As for institutions that cannot complete the task by the end of 2021, regulators will adopt a case-by-case approach to ensure implementation of their reform plans.

Data compiled by Zheshang Securities indicates that 43 percent of the outstanding value of bank-offered wealth management products was not principal-protected by the end of 2019, up from 27 percent by the end of 2018.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 三级视频网址 | 99热最新网址 | 国产男女自拍视频 | 97超级碰碰碰在线播放 | 国产一区二区欧美丝袜 | 免费一级欧美片片线观看 | 黄色小视频在线看 | 在线播放一区二区三区 | 极品久久| 手机成人免费视频 | 亚洲欧美韩国日产综合在线 | 国产精品美乳一区二区免费 | 国产成人激情视频 | 精品a级片 | 久操久操久操 | 九九热在线免费视频 | 欧美精品一区二区三区在线 | 久色视频在线观看 | 国产极品福利视频在线观看 | 亚洲欧洲日本无在线码天堂 | 久久最新精品 | 性视频欧美 | 天天干天天操天天爽 | 乳罩双性受给攻喂奶高h | 九九黄色| 久久精片 | 91久久艹| 91亚洲国产成人久久精品网站 | 国产精品视频网 | 精品中文字幕一区 | 一区二区av在线 | 啪啪免费网站入口链接 | 国产成人精品福利站 | 久久久精品免费热线观看 | 精品国产一区二区三区免费 | 国产免费黄色网址 | 激情丁香开心久久综合 | jizzjizz视频| 精品三级国产精品经典三 | 一级一级 a爱片免费视频 | 日韩久久一区 |