Central bank may delay new rules for $12.9 trillion industry

China Economic Review | Jul 13, 2020 at 6:44 AM
  • China’s central bank is discussing extending a grace period for financial institutions to comply with sweeping new asset management rules covering a $12.9 trillion industry that were issued in 2018 and set to take effect in December 2020, officials said Friday at a press conference, reported Caixin.
  • The new asset management rules are intended to tame and reduce risks in a massive industry.
  • Under the new framework, financial institutions need to offload nonstandard assets or return them to their balance sheets by reasonably adjusting certain measurements.