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.)
· 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…
· 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
 There is a poor quality version of the document distributed online and I decide not to paste the link here…