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PBOC extends grace period for compliance with new asset management rules by one year


China’s central bank will extend 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 on the economy and the great pressure faced by financial institutions in transforming their asset management business, the transition period will be extended by one year to the end of 2021, according to a statement released by . . .

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