FINANCE & INVESTMENT

The National Development and Reform Commission and 10 other regulatory bodies announced, on 24 September, that China will step up its crackdown on virtual currency “mining” activities and strictly ban new “mining” projects. The orderly termination of existing projects will be stepped up and efforts will be made to optimise associated reductions in carbon emissions. More

Shanghai has released a set of measures for the use and administration of a special fund for foreign trade and economic development. These measures took effect on 20 September 2021 and will remain in force for five years. The fund will mainly be used to support foreign trade and economic development through subsidy, interest subsidy and service purchase. More

On 2 September, the China Banking and Insurance Regulatory Commission issued and put into practice its administrative measures on the market access of branches of insurance companies in a bid to regulate various matters pertaining to insurance branches – including their formation, transformation, change of premises and revocation. The measures are also intended to regulate the application, examination and approval of relevant administrative permits. More

On 5-6 September 2021 the Central Committee of the Chinese Communist Party and State Council promulgated respectively the Hengqin Plan and the Qianhai Plan. Following the construction of Qianhai and Hengqin for over 10 years, the Plans set out the latest development directions for the two co-operation zones, creating huge opportunities for many sectors in Hong Kong and Macao. More