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GREATER CHINA
* The Hong Kong Monetary Authority and seven lenders including HSBC Holdings PLC and Standard Chartered PLC are set to roll out a blockchain-based trade finance platform in September, aimed at digitizing documents and automating processes to curb risk and increase the banking sector's financing capability, Reuters reported, citing HKMA Deputy CEO Howard Lee in a joint statement. Lee added that the central bank plans to tie up with other trade platforms in other jurisdictions.
* Chinese and Hong Kong regulators agreed to implement a year-long temporary measure to cut capital requirements for Chinese insurance and reinsurance companies when they cede business to Hong Kong-based reinsurers. Previously, under the China Risk Oriented Solvency System, Hong Kong reinsurers were regarded offshore entities, which meant that the capital requirement for business ceded to them by Chinese insurers and reinsurers is higher than for local reinsurers.
* Bank of China Ltd. named Liu Liange president and vice chairman, subject to approval from the China Banking and Insurance Regulatory Commission. Liu, meanwhile, was nominated as executive director, subject to shareholder approval.
* China Rongzhong Financial Holdings Co. Ltd. removed Yao Feng as its CEO with immediate effect following his removal as a director July 3. The Hong Kong-based company also appointed Chen Shuai its chairman, and Wong Emilie Hoi Yan its new CEO, effective July 12.
JAPAN AND KOREA
* Japan's Financial Services Agency issued a business improvement order to maneo market Inc., a Tokyo-based operator of a social lending platform, citing lax internal controls,...