PBOC said it's considering extending grace period for compliance with new asset management rules

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China’s central bank is considering extending a grace period for financial institutions to comply with sweeping new asset management rules issued in 2018 and set to take effect in the end of 2020.

"Considering the impact of the coronavirus pandemic, the transition period should be extended, but some experts have suggested that the transition should not be set too long. Maybe one year is appropriate," said Zhou Xuedong, director of the general executive office of the People’s Bank of China (PBOC).

Going back to rampant off-balance sheet business, speculating with funds and . . .

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