China: Securitization & Structured Finance

2025年是中国资产证券化发展历程中具有里程碑意义的一年。随着党中央的"十五五"规划建议提出"稳步发展期货、衍生品和资产证券化"，这是首次将"资

Mainland China has issued a comprehensive notice that explicitly addresses virtual currencies and Real World Asset tokenisation, drawing clear boundaries around what constitutes illegal financial activity onshore while outlining narrow pathways for compliant offshore structures. The document signals a fundamental shift in how regulators view tokenisation—not as a technology workaround, but as regulated finance subject to the same scrutiny as traditional financial activities. For firms operating in Hon

The Making of an American Capitalist, by journalist Roger Lowenstein, draws on three years of unprecedented access to Warren Buffett's family, friends...

Insurance-linked securities ("ILS") are an effective tool to allocate cat risk that is yet to be developed in China. In the ILS market, cat risk is typically transferred to investors through cat bonds and other securitisation tools.

The State Administration of Foreign Exchange of the PRC has recently issued the Provisions on Foreign Exchange Administration of Cross-Border Security and the relating implementation guidelines.

China has announced plans to launch a new pilot securitization program that will allow some Chinese commercial lenders to securitize financial assets.