China kept its 6.5% GDP growth target and stressed quality over speedy growth. The move could curb investment returns in the short term, but better ensure long-term stability.
Xiao Gang has been replaced as chairman of the China Securities Regulatory Commission, with his successor facing a number of thorny issues.
Foreign insurers are to be given full access to China within 18 months as control of state-owned financial sector firms is re-centralised, an adviser to Premier Li Keqiang has revealed.
Li Keqiang has called for more private banking licences to be issued, in a speech to the National People's Congress. He also made promising references to the launch of Shenzhen-Hong Kong Stock Connect.
Authorities release draft regulations for the pending scheme to link the two bourses, although updates on taxation and how trades can be placed are still to be announced.
CSRC chairman Xiao Gang and Hong Kong's Laura Cha say mutual recognition of funds is imminent, following yesterday's unveiling of the linking of the Shanghai and Hong Kong stock markets.
Few were surprised by the Communist Party’s Third Plenary session in Beijing. But economists say some of the wording suggests reforms are not far off.
They see it as a natural progression, although timing remains uncertain, after China's central bank moves to curb speculation by proposing the next step to full convertibility.
Vice-premier Li Keqiang says Chinese firms in Hong Kong will share a Rmb20 billion quota, sparking a share rally. Chinese firms will also be allowed to buy into an ETF linked to Hong Kong stocks.
Investment bank economists turn tail and run when asked by AsianInvestor to comment on how Li Keqiang analyses the Chinese economy.