Broadened Entry

Total assets of foreign banks and insurers in China had exceeded 5 trillion yuan ($702.2 billion) amid the expansion of a two-way opening up of the banking and insurance sector, China’s top banking regulator said on May 24.

By the end of the first quarter, foreign banks had established 41

in the foreseeable future.

“The Chinese economy is picking up again, even though the situation there has not yet completely eased,” Wiechers said.

The VDMA has been conducting regular surveys among its members since the pandemic broke out. The most recent one, in which 724 companies took part in early May, showed that nine out of 10 saw themselves as being affected by the economic consequences of the pandemic.

Meanwhile, the association noted a slight easing of tension on the supply side. Many mechanical engineering companies reported that the difficulties with supplies from China in particular are easing, according to a separate statement from the VDMA on the survey results. under the reform of the registrationbased IPO system in Chinext, its Nasdaq-style board of growth enterprises.

The CSRC recently started to solicit public opinion on a special regulation, expecting to regulate IPO activities in the registration system of Chinext, and protect the legitimate rights and interests of investors.

With the experience gained from a previous pilot at the sci-tech innovation board, the regulation is designed to enhance inclusiveness and flexibility.

It includes targeted measures in terms of risk control and protection for small and medium investors and adds backup systems in case of major risks.

To boost the efficiency of issuance, it retains the current IPO pricing mechanism, allowing IPOS of less than 20 million shares and with no share publicly offered by shareholders to set prices directly.

The CRSC pledged to promote the IPO issuance and underwriting