Intelligence | Tesla received a subpoena from the SEC; SoftBank sold Arm; and Yang Guofu submitted IPO materials

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Supervision

Central Bank and Banking And Insurance Regulatory Commission: Loans for affordable rental housing projects are not included in the management of real estate loan concentration

On February 8, the Chinese Bank of China and the China Banking and Insurance Regulatory Commission issued the Notice on Not Including Loans Related to Affordable Rental Housing in the Management of Real Estate Loan Concentration, which clarifies that loans related to affordable rental housing projects are not included in the management of real estate loan concentration, and encourages banking financial institutions to increase support for the development of affordable rental housing in accordance with the principles of legal compliance, risk control and commercial sustainability. (Beijing Business Daily)

Ministry of Education: Promote regulatory legislation for off-campus education and training

The Ministry of Education website released the key points of work in 2022 on the 8th, mentioning that it is necessary to promote the supervision and legislation of off-campus education and training, strengthen law enforcement forces, enhance law enforcement capabilities, and grasp law enforcement inspections. Guide all localities to distinguish between sports, culture and art, science and technology and other categories of non-disciplinary training institutions, pay close attention to clarifying the competent departments, reflect the public welfare attributes, realize normalized supervision, and prevent the emergence of new barbaric growth. Establish a national expert committee on off-campus education and training. (Zhongxin Jingwei)

industry

Tesla received a subpoena from the U.S. Securities exchange

According to the Wall Street Journal Chinese network on the 8th, Tesla disclosed that it has received a subpoena from the US Securities and Exchange Commission (SEC) to find out whether the electric vehicle manufacturer has complied with the settlement agreement on its governance process. The subpoena is linked to the SEC's investigation into Musk tweeting in 2018 that he had "secured funding" to take the company private.

SoftBank's sale of Arm failed

SoftBank's deal to sell chip business Arm to NVIDIA for $66 billion collapsed. According to the Financial Times on Tuesday, three people with direct knowledge of the deal revealed that SoftBank's deal to sell chip business Arm to Nvidia for $66 billion failed on Monday after U.S., U.K. and EU regulators expressed serious concerns about the impact of competition in the global semiconductor industry. (Interface)

CMF Consumer Finance responds to regulatory fines: all rectifications have been completed as required

On February 8, the China Banking and Insurance Regulatory Commission issued a fine, and Zhonglian Consumer Finance Co., Ltd. was fined 2.9 million yuan for exaggerated and misleading marketing publicity, inconsistent quality and price of platform service fees, imprudent product pricing management, inadequate risk management of cooperative merchants, failure to report joint loan off-balance sheet risk exposure, improper collection behavior, irregular audit work on consumer rights protection, and inadequate management of consumer complaints. In response to this punishment, CMF responded that it had completed all rectification work in accordance with regulatory requirements. (Beijing Business Daily)

Private placement set off a self-purchase boom

Following the public fund, the private placement has also set off a boom in self-purchase of its own funds. Recently, a number of private equity funds with a scale of 10 billion yuan issued self-purchase announcements, with a total scale of more than 1 billion yuan. According to incomplete statistics, private placements including Hanhe Capital, Jinglin Assets, Jiukun Investment, Magic Square Quantitative, Hefu Investment, Yongan Guofu, Lingjun Investment, Andrinyuan Investment have recently announced self-purchase, with a total amount of 1.025 billion yuan to be purchased. (Shenzhen Business Daily)

Yang Guofu submitted IPO materials "Spicy Hot First Stock" is about to be born

News on February 8, recently, Yang Guofu spicy hot has submitted to the China Securities Regulatory Commission the relevant materials for the approval of overseas initial public offering of shares. The "spicy hot first strand" is about to be born. Spicy hot pot is a hot pot product, originating in Sichuan, but flourishing in the northeast. At present, the total number of Yang Guofu spicy hot stores has exceeded 6,000. (Whiplash)

Fast Money received the first 10 million-dollar fine in 2022

On February 7, the Shanghai Branch of Chinese Min min bank issued two fines for payment institutions, including 10.04 million yuan for fast money payment and clearing information co., LTD. (hereinafter referred to as "fast money") and 4.3 million yuan for deshi co., LTD. (hereinafter referred to as "deshi"). According to the administrative penalty information, on January 24, 2022, Fast Money Payment Clearing Information Co., Ltd. was fined 10.04 million yuan by the Shanghai Branch of Chinese Min min bank for violating account management regulations, violating liquidation management regulations, failing to perform customer identification obligations according to regulations, and trading with unidentified customers, and was ordered to make corrections within a time limit. (Mobile Payment Network)

point of view

Sun Tianqi, central bank: Financial institutions that hold a certain regional exhibition license cannot do so in the whole country

On February 8, Sun Tianqi, director of the Financial Stability Bureau of the Chinese Min min bank, wrote that financial licenses have borders. Expanding the opening up of the financial industry is an inevitable requirement for building a new development pattern, but overseas institutions must comply with domestic regulatory rules when expanding their business in China. For financial business that has been opened to the outside world, overseas institutions must hold relevant domestic licenses to operate legally and in compliance. For financial businesses prohibited in China, as well as financial businesses that have not been opened to the outside world, foreign institutions shall not operate in China. It is illegal for a foreign institution to engage in prohibited or unopened financial business in China, or to carry out business in China only by holding an overseas license. The licenses of most small and medium-sized institutions in China also have geographical restrictions. If a financial institution only holds a license that can expand its business in a certain area, it cannot expand its business in the whole country. National financial licenses can only be issued by the central financial administration. (Financial Associated Press)