China to 'fully' consider impact of new asset management rules: regulator | Reuters
BEIJING (Reuters) - China will “fully” consider the possible impact on banks and markets before finalising its new asset management rules, Xinhua news agency quoted a senior banking regulator as saying on Saturday. FILE PHOTO: Office buildings are seen at the financial Central district in Hong Kong, China September 6, 2017.
BEIJING (Reuters) - China will “fully” consider the possible impact on banks and markets before finalising its new asset management rules, Xinhua news agency quoted a senior banking regulator as saying on Saturday. FILE PHOTO: Office buildings are seen at the financial Central district in Hong Kong, China September 6, 2017. REUTERS/Bobby Yip/File PhotoChina issued draft guidelines last month to tighten rules on the asset management industry, the latest step by Beijing to fend off systemic risks from the country’s rampantly growing shadow banking sector. “The new regulations will fully consider the impact on banks and markets before being finalised,” Xinhua quoted Liu Zhiqing, deputy director general of the China Banking Regulatory Commission’s prudential regulation bureau, as saying. “We are seeking comments now, hoping all parties will make suggestions and come up with good solutions that will be implemented smoothly.” The transition period for the new regulations lasts until June 30, 2019. Sources have told Reuters that ten Chinese banks have raised strong objections to the central bank’s proposals, saying it may cause a rush of redemptions among other risks.
This story has not been edited by Firstpost staff and is generated by auto-feed.
ATHENS (Reuters) - Greek police used teargas and water cannon to disperse people who had gathered in central Athens on Saturday to protest against mandatory COVID-19 vaccinations. More than 4,000 people rallied outside the Greek parliament for a third time this month to oppose mandatory inoculations for some workers, such as healthcare and nursing staff.
ISTANBUL (Reuters) - Two Turkish soldiers were killed and two were wounded in an attack on their armoured vehicle in northern Syria, and Turkish forces immediately launched retaliatory fire, Turkey's defence ministry said on Saturday. "Our punitive fire against terrorist positions is continuing," the statement on Twitter on said. It did not specify where the attack occurred, but media reports said it was in the al-Bab area.
By Marcelo Rochabrun SAO PAULO (Reuters) - Protesters took to the streets in several Brazilian cities on Saturday to demand the impeachment of far-right President Jair Bolsonaro, whose popularity has fallen in recent weeks amid corruption scandals against the backdrop of the pandemic. This week, news broke that Brazil's defense ministry told congressional leadership that next year's elections would not take place without amending the country's electronic voting system to include a paper trail of each vote. Bolsonaro has suggested several times without evidence that the current system is prone to fraud, allegations that Brazil's government has denied