On payments: a busy April

Listed below are regulations issued in April.

· Measures on non-bank payment institutions rating

§ Full text along with official interpretation is available here: http://www.pcac.org.cn/file/File/1451550737.pdf (This regulation is also cited as a possible reason for the 78-day delay in renewing the licenses of third-party payment institutions.)[1]

· Measures for rewarding the reporting of violations of laws and regulations on payment and settlement by the PBOC.

§ Full text for the Measures is available here: http://finance.ce.cn/rolling/201604/07/t20160407_10240138.shtml

§ The PCAC issued relevant rules on implementation accordingly in June. The rules, as well as the Measures, came effective on 7/1/2016. For full text, see http://www.pcac.org.cn/file/File/zfjswfwgxwjbjlbf1%20.pdf

§ Interpretation by the PCAC on the implementation rules is available here: http://www.pcac.org.cn/index.php?optionid=701&auto_id=223

· Provisional measures on sharing risk information among the PCAC members.

§ Full text is available here: http://www.pcac.org.cn/file/File/hyfxxxgxglbf.pdf

· Measures on non-bank payment institutions self-regulation and management assessment.

§ Full text is unavailable here, unfortunately[2]

· Proposal for managing risks of non-bank payment institutions.

§ Full text is available here: http://www.cbca.org.cn/zcfg/bmgz/2016-04-23/8728.html

· Notice on credit card business.

§ Full text is available here: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/3048512/index.html

§ The new regulation will become effective on 7/1/2017.

§ A transcript for press conference on this new Notice is available here: http://business.sohu.com/20160415/n444324241.shtml

§ The Notice is expected to have a significant impact on personal finance and consumer behavior

[1] See http://finance.sina.com.cn/roll/2016-08-14/doc-ifxuxhas1887565.shtml

[2] There is a poor quality version of the document distributed online and I decide not to paste the link here…

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