The China Banking and Insurance Regulatory Commission will allow US-based Goldman to deliver these services a year after the JV was approved.
Shares of China's third largest bank fall 11.5% in Hong Kong after the bank's board said late on Monday it would remove Tian Huiyu from his role as president
China's interest rate regulator is encouraging smaller banks to lower the ceiling on deposit rates by 10 basis points, to 65bps above the benchmark rate, not 75bps
But regulators have grown uneasy as this contradicts the long-term role the companies should play in the country’s retirement system
At least two large state-owned insurance firms have been asked by regulators to conduct internal checks on their business and investment
Cai Esheng, former vice-chairman of what was formerly the China Banking Regulatory Commission (CBRC), was suspected of taking bribes
People's Bank of China, State Administration for Market Regulation, China Banking and Insurance Regulatory Commission and China Securities Regulatory Commission are coordinating